UNFI Announces Upsizing and Pricing of Notes Offering
16 October 2020 - 7:45AM
Business Wire
United Natural Foods, Inc. (NYSE: UNFI) (“UNFI”) today announced
that it has priced its previously announced notes offering and has
agreed to issue and sell $500 million aggregate principal amount of
6.750% Senior Notes due 2028 (the “Notes”). The aggregate principal
amount of Notes to be issued in the offering was increased to $500
million from the previously announced $400 million. The Notes will
be sold to investors at par.
UNFI intends to use the net proceeds of the Notes offering to
repay a portion of the amounts outstanding under its term loan
facility (including accrued and unpaid interest with respect to
such amounts). The Notes will be UNFI’s senior unsecured
obligations and will be guaranteed by each of UNFI’s existing and
future subsidiaries that are borrowers under or that guarantee its
asset-based revolving credit facility and term loan facility. The
closing of the sale of the Notes is scheduled for October 22, 2020,
subject to customary closing conditions.
The Notes have not been and will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”) or any
state securities laws, and may not be offered or sold in the United
States or to U.S. persons absent registration or an applicable
exemption from such registration requirements. Accordingly, the
Notes will be offered and sold in the United States only to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act and to non-U.S. persons in offshore transactions
outside the United States in accordance with Regulation S under the
Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the Notes in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20201015006058/en/
INVESTOR CONTACT: Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@unfi.com
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