US FOODS HOLDING CORP. (NYSE:USFD) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
Senior Secured Term Loan Facility
On February17, 2017, US Foods, Inc. (US Foods), the several
lenders party thereto and Citicorp North America, Inc., as
administrative agent and collateral agent, entered into an
amendment (the Third Amendment) to US Foods existing term loan
credit agreement (the Existing Credit Agreement, as amended by
the Third Amendment, the Credit Agreement), to, among other
things, amend certain pricing terms of its outstanding term loans
in an aggregate principal amount of $2.189billion. The Third
Amendment lowers the applicable margin on term loan borrowings to
(i) 2.75% per annum for LIBOR borrowings and (ii)1.75% per annum
for ABR borrowings. In addition, certain voluntary prepayments of
the term loans made on or prior to August17, 2017 are subject to
a 1.0% soft call premium.
A copy of the Third Amendment is attached as Exhibit 4.1. The
foregoing description of the Credit Agreement does not purport to
be complete and is qualified in its entirety by reference to the
full text of such document.
| Item2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in Item1.01 concerning US Foods direct
financial obligations under the Credit Agreement is hereby
incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
|
(d)Exhibits. |
|
Exhibit No. |
Description |
|
| 4.1 |
Third Amendment to the Credit Agreement, dated as of February17, 2017, among US Foods, Inc., Citicorp North America, Inc. and the Lenders and other financial institutions party thereto. |
About US FOODS HOLDING CORP. (NYSE:USFD)
US Foods Holding Corp. is a holding company. The Company is a foodservice distributor in the United States. It conducts all of its operations through its subsidiary, US Foods, Inc. It markets and distributes fresh, frozen and dry food and non-food products to foodservice customers throughout the United States. It offers products, such as Chef’s Line Pat LaFrieda Angus Beef Burger, which is a beef patty developed by New York butcher Pat LaFrieda, and features Angus short rib and chuck prepared with LaFrieda’s chopped technology; Chef’s Line All Natural Ready-to-Cook Turkey Roast, which is a natural turkey breast developed with Butterball and DuPont Film, and Monarch Mirepoix Blend, which is a blend of onions, carrots and celery. As of October 1, 2016, it provided over 400,000 fresh, frozen, and dry food stock-keeping units, as well as non-food items, sourced from over 5,000 suppliers. The Company offers its customers with a suite of e-commerce, technology and business solutions. US FOODS HOLDING CORP. (NYSE:USFD) Recent Trading Information
US FOODS HOLDING CORP. (NYSE:USFD) closed its last trading session up +0.67 at 27.62 with 1,422,614 shares trading hands.