Performance Food Group Prices $1B Offering Of 6.125% Senior Notes Due 2032, With Proceeds To Fund Cheney Brothers Acquisition And Related Costs; Closing Expected September 12, 2024
Portfolio Pulse from Benzinga Newsdesk
Performance Food Group (PFGC) has announced the pricing of a $1 billion offering of 6.125% senior notes due 2032. The proceeds will be used to fund the acquisition of Cheney Brothers and related costs. The closing of this transaction is expected on September 12, 2024.
September 04, 2024 | 8:25 pm
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Performance Food Group is issuing $1 billion in senior notes to finance its acquisition of Cheney Brothers. This move indicates a strategic expansion and potential growth for PFGC.
The issuance of senior notes to fund an acquisition suggests that PFGC is pursuing growth through strategic acquisitions. This can be seen as a positive move for the company, potentially leading to increased market share and revenue. The market may react positively to this news, anticipating future growth.
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