Simpson Thacher represented Performance Food Group Company (NYSE: PFGC) in connection with its high yield notes offering consisting of $350 million aggregate principal amount of 5.5% Senior Notes due 2024 offered under Rule 144A and Regulation S. Performance Food Group Company used the proceeds from the offering to repay all outstanding borrowings under its term loan facility and to terminate that facility and to temporarily repay a portion of its borrowings under its asset-based revolving credit facility.
Through its family of leading foodservice distributors – Performance Foodservice, Vistar, and PFG Customized – Performance Food Group Company markets and distributes approximately 150,000 food and food-related products from 69 distribution centers to over 150,000 customer locations across the United States. The company’s 12,000+ associates serve a diverse mix of customers, from independent and chain restaurants to schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, big box retailers, and theaters.
The Simpson Thacher team included Xavier Kowalski, Sunny Cheong, Todd Noelle and Summer Associate Patrick Wolff (Capital Markets); Alden Millard, Jennifer Levitt and Caroline Gross (Credit); Gary Mandel and Drew Purcell (Tax); Greg Grogan and Jeannine McSweeny (Executive Compensation and Employee Benefits); and Amanda Weiss (PCAP).