Performance Food Group Company Announces Intention To Offer $1B Of Senior Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
Performance Food Group Company (PFGC) plans to offer $1 billion in Senior Notes due 2032 to finance its acquisition of Cheney Bros, Inc. The proceeds will also cover related fees and expenses, with temporary use for general corporate purposes.
September 04, 2024 | 1:14 pm
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Performance Food Group Company (PFGC) is issuing $1 billion in Senior Notes to finance its acquisition of Cheney Bros, Inc. This move indicates a strategic expansion and potential growth, but also increases the company's debt load.
The issuance of $1 billion in Senior Notes by PFGC is directly tied to its strategic acquisition of Cheney Bros, Inc. This indicates a growth strategy, which is generally positive for stock prices. However, the increase in debt could be a concern for investors, though the strategic nature of the acquisition likely outweighs this in the short term.
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