SYY · 10-Q · 2026Q3 · Full report

Interest Rate and Refinancing Exposure

SYSCO CORP · 2026-11-04 · Importance 52 · Surprise 42

Sysco completed bond and equity financing in the first quarter of fiscal 2027 and early October 2026 for the cash component of the proposed JRD acquisition. The company expects approximately $787 million of interest expense for the remainder of fiscal 2027 related to the newly issued notes. Sysco also reported a $234 million gain on deal-contingent rate-lock transactions entered into to mitigate interest-rate risk on permanent debt issued to finance the acquisition; interest expense before the acquisition closes will be treated as a Certain Item.