DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jun. 27, 2020

Sysco’s debt consists of the following:


	Jun. 27, 2020		Jun. 29, 2019
	(In thousands)
U.S. Commercial paper, interest at 2.56% as of June 29, 2019	$	—	$	132,081
U.K. Commercial paper, interest at 0.454%, maturing in fiscal 2021	740,226		—
Senior notes, interest at 2.60%, maturing in fiscal 2021 ⁽¹⁾⁽²⁾	751,312		744,034
Senior notes, interest at 2.50%, maturing in fiscal 2022 ⁽¹⁾⁽²⁾	504,352		494,814
Senior notes, interest at 2.60%, maturing in fiscal 2022 ⁽¹⁾⁽²⁾	448,336		447,509
Senior notes, interest at 1.25%, maturing in fiscal 2023⁽¹⁾⁽²⁾	568,011		576,771
Senior notes, interest at 3.55%, maturing in fiscal 2025⁽¹⁾⁽²⁾	551,756		521,490
Senior notes, interest at 3.65%, maturing in fiscal 2025 ⁽¹⁾	362,785		379,658
Senior notes, interest at 5.65%, maturing in fiscal 2025 ⁽¹⁾⁽²⁾	745,241		—
Senior notes, interest at 3.75%, maturing in fiscal 2026⁽¹⁾⁽²⁾	747,727		747,330
Senior notes, interest at 3.30%, maturing in fiscal 2027⁽¹⁾⁽²⁾	993,978		993,084
Debentures, interest at 7.16%, maturing in fiscal 2027⁽²⁾⁽³⁾	44,273		44,272
Senior notes, interest at 3.25%, maturing in fiscal 2028⁽¹⁾⁽²⁾	744,046		743,304
Debentures, interest at 6.50%, maturing in fiscal 2029⁽²⁾⁽³⁾	162,416		162,150
Senior notes, interest at 2.40%, maturing in fiscal 2030 ⁽¹⁾⁽²⁾	495,273		—
Senior notes, interest at 5.95%, maturing in fiscal 2030 ⁽¹⁾⁽²⁾	1,239,439		—
Senior notes, interest at 5.375%, maturing in fiscal 2036 ⁽¹⁾⁽²⁾	382,190		382,250
Senior notes, interest at 6.625%, maturing in fiscal 2039 ⁽¹⁾⁽²⁾	199,390		199,198
Senior notes, interest at 6.60%, maturing in fiscal 2040 ⁽¹⁾⁽²⁾	740,188		—
Senior notes, interest at 4.85%, maturing in fiscal 2046⁽¹⁾⁽²⁾	496,017		495,860
Senior notes, interest at 4.50%, maturing in fiscal 2046⁽¹⁾⁽²⁾	494,338		494,215
Senior notes, interest at 4.45%, maturing in fiscal 2048 ⁽¹⁾⁽²⁾	492,662		492,579
Senior notes, interest at 6.60%, maturing in fiscal 2050 ⁽¹⁾⁽²⁾	1,233,666		—
Senior notes, interest at 3.30%, maturing in fiscal 2050 ⁽¹⁾⁽²⁾	494,428		—
Long-term revolving credit facility, interest at 2.125%, maturing in fiscal 2024 ⁽²⁾	694,951		—
Notes payable, capital leases, and other debt, interest averaging 4.53% and maturing at various dates to fiscal 2046 as of June 27, 2020 and 4.99% and maturing at various dates to fiscal 2031 as of June 29, 2019	119,878		112,738
Total debt	14,446,879		8,163,337
Less current maturities of long-term debt	(1,542,128)		(37,322)
Less notes payable	(2,266)		(3,957)
Net long-term debt	$	12,902,485	$	8,122,058

⁽¹⁾Represents senior notes that are unsecured, are not subject to any sinking fund requirement and include a redemption provision that allows Sysco to retire the debentures and notes at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture and note holders are not penalized by the early redemption.

⁽²⁾Represents senior notes, debentures and borrowings under the company’s long-term revolving credit facility that are guaranteed by certain wholly owned U.S. Broadline subsidiaries of Sysco Corporation as discussed in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources.”

⁽³⁾This debenture is not subject to any sinking fund requirement and is no longer redeemable prior to maturity.

Long-term debt principal payments for the next five years table

As of June 27, 2020, the principal payments required to be made during the next five fiscal years on total debt, excluding notes payable, are shown below:


	Amount
	(In thousands)
2021	$	1,490,284
2022	950,000
2023	561,098
2024	700,000
2025	1,614,538

Schedule of Senior Notes Details

Details of the senior notes are as follows:


Maturity Date	Par Value (in millions)		Coupon Rate		Pricing (percentage of par)
April 1, 2025 (the 5.650% Senior Notes due 2025)	$	750	5.65	%	99.931	%
April 1, 2030 (the 5.950% Senior Notes due 2030)	1,250		5.95		99.792
April 1, 2040 (the 6.600% Senior Notes due 2040)	750		6.60		99.802
April 1, 2050 (the 6.600% Senior Notes due 2050)	1,250		6.60		99.767

Details of the Notes are as follows:


Maturity Date	Par Value (in millions)		Coupon Rate		Pricing (percentage of par)
February 15, 2030 (the 2030 Notes) ⁽¹⁾	$	500	2.40	%	99.647	%
February 15, 2050 (the 2050 Notes)	500		3.30		99.811

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details