Performance Food Group Company (NYSE: PFGC) has announced that its indirect wholly-owned subsidiary, Performance Food Group, Inc., intends to offer $1.06 billion aggregate principal amount of Senior Notes due 2034. The company plans to use the net proceeds from this offering, along with borrowings under its revolving credit facility, to redeem all of the Issuer's outstanding 5.500% Senior Notes due 2027, as well as to cover related fees and expenses. The new notes will be guaranteed by PFGC, Inc., the direct parent company, and certain existing and future material wholly-owned domestic restricted subsidiaries, subject to certain exceptions.
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