Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

SYSCO CORPORATION

(SYY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SYSCO CORP : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

09/22/2021 | 05:04pm EST

Item 1.01 Entry into Material Definitive Agreement.

On September 22, 2021, Sysco Corporation ("Sysco") entered into an amendment (the "Amendment") to the Credit Agreement dated as of June 28, 2019, as previously amended on May 20, 2020 and May 20, 2021, with JPMorgan Chase Bank, N.A., as administrative agent and the lenders party thereto (the "Existing Credit Agreement"). The Amendment revises the Existing Credit Agreement to (a) eliminate the covenant that had restricted (i) increases to Sysco's regular quarterly dividend and (ii) repurchases of equity interests of Sysco, in each case, until the earlier of September 2022 or the date on which Sysco has achieved a certain ratio of consolidated EBITDA to consolidated interest expense, and (b) adjust the covenant requiring Sysco to maintain a certain ratio of consolidated EBITDA to consolidated interest expense.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated by reference herein.

Neither Sysco nor any of its affiliates has any material relationship with any of the other parties to the Existing Credit Agreement, except for (i) the Company's previous credit facilities, with respect to which certain of the other parties to the Existing Credit Agreement (and their respective affiliates) were lenders and (ii) commercial banking, investment banking, underwriting, trust and other financial advisory services provided (or to be provided) to Sysco and its subsidiaries by certain of the lenders under the Existing Credit Agreement (and their respective affiliates), for which they have received (or will receive) customary fees and expenses.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this report is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits.



Exhibit Number        Description

10.1                    Amendment No. 3 dated as of September 22, 2021 to Credit
                      Agreement dated as of June 28, 2019, among Sysco Corporation,
                      Sysco Canada, Inc., Sysco EU II S.à r.l., the subsidiary
                      guarantors party thereto, JP Morgan Chase Bank, N.A., as
                      administrative agent, and the lenders party thereto

104                   Cover Page Interactive Data File (embedded within the Inline
                      XBRL document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

All news about SYSCO CORPORATION
12/07SYSCO CORP : Entry into a Material Definitive Agreement, Financial Statements and Exhibits..
AQ
12/06Sysco to acquire fresh produce distributor/processor
AQ
12/06Sysco Agrees to Acquire The Coastal Companies From Continental Grain Company
MT
12/06Sysco Announces Agreement to Acquire The Coastal Companies, a Leading Fresh Produce Dis..
AQ
11/23SYSCO CORP : Change in Directors or Principal Officers, Submission of Matters to a Vote of..
AQ
11/23Declaration of Voting Results by Sysco Corporation
CI
11/22Sysco Announces Science-Based Climate Goal, Leads U.S. Foodservice Distribution Industr..
AQ
11/18Sysco Declares Quarterly Dividend Payment
AQ
11/18Sysco Corporation Declares Regular Quarterly Cash Dividend, Payable on January 28, 2022
CI
11/18SYSCO : Sustainability Accounting Standards Board (SASB) Index
PU
More news
Analyst Recommendations on SYSCO CORPORATION
More recommendations