DEBT

3 Months Ended

Sep. 27, 2025

Debt Disclosure [Abstract]

DEBT

DEBT

On September 5, 2025, Sysco entered into a new long-term revolving credit facility, which replaces the $3.0 billion senior revolving credit facility that was originally entered into on April 29, 2022. The aggregate commitments of the lenders under the new long-term credit agreement are $3.0 billion, with an option to increase such commitments to $4.0 billion. The new facility includes a covenant requiring Sysco to maintain a ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0 over four consecutive fiscal quarters, which is consistent with our previous revolving credit facility. The new revolving credit facility expires on September 5, 2030. As of September 27, 2025, there were no borrowings outstanding under this facility.

We have a U.S. commercial paper program allowing the company to issue short-term unsecured notes in an aggregate amount not to exceed $3.0 billion. Any outstanding amounts are classified within long-term debt, as the program is supported by the long-term revolving credit facility noted above. As of September 27, 2025, there were no commercial paper issuances outstanding under this program. We also have a commercial paper program in Europe with borrowings not to exceed €500 million. As of September 27, 2025, there were €290 million (the equivalent of $339 million) in commercial paper issuances outstanding under this program.

The total carrying value of our debt was $13.4 billion as of September 27, 2025 and $13.3 billion as of June 28, 2025. The increase in the carrying value of our debt during the 13-week period ended September 27, 2025 was due to new commercial paper issuances and new leases in support of plant and equipment. In October 2025, Sysco repaid $750 million of matured senior notes that were classified within current maturities of long-term debt as of September 27, 2025.

Information regarding the guarantors of our registered debt securities is contained in the section captioned Guarantor Summarized Financial Information in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 2 of Part I of this Form 10-Q.