DEBT

9 Months Ended

Mar. 28, 2026

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 March 28, 2026, there were no borrowings outstanding under this

facility. In April 2026, Sysco replaced the 2025 credit facility described above. See more information in Note 15, Subsequent

Events.

We have a 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 March 28, 2026, there were no U.S. commercial paper issuances

outstanding under this program. We have commercial paper issuances outstanding under this program in Europe. In December

2025, Sysco entered into an agreement to increase the maximum allowable principal amount of the commercial paper issuances

in Europe, with borrowings not to exceed €750 million. As of March 28, 2026, there were €410 million (the equivalent of

$473 million) in commercial paper issuances outstanding in Europe.

On February 13, 2026, Sysco issued senior notes (the Notes) totaling $1.25 billion. Details of the Notes are as follows:

Maturity Date	Par Value (In millions)	Coupon Rate	Pricing (percentage of par)
July 25, 2031 (the 2031 Notes)	$600	4.40%	99.997%
March 25, 2036 (the 2036 Notes)	650	4.95	99.637

The Notes initially are fully and unconditionally guaranteed by Sysco’s direct and indirect wholly owned subsidiaries

that guarantee Sysco’s other senior notes issued under the indenture governing the Notes or any of Sysco’s other indebtedness.

Subsidiaries acquired or created in the future may or may not become guarantors, but any domestic subsidiary that guarantees

our other senior notes or our other indebtedness must also guarantee the Notes. Interest on the 2031 Notes will be paid semi-

annually in arrears on January 25 and July 25, beginning on July 25, 2026. Interest on the 2036 Notes will be paid semi-

annually in arrears on March 25 and September 25, beginning on September 25, 2026. The 2031 Notes will mature on July 25,

2031, and the 2036 Notes will mature on March 25, 2036. At Sysco’s option, any or all of the Notes may be redeemed, in whole

or in part, at any time prior to maturity. If we elect to redeem (i) the 2031 Notes before the date that is one month prior to the

maturity date, or (ii) the 2036 Notes before the date that is three months prior to the maturity date, Sysco will pay a redemption

price equal to the greater of (1) 100% of the principal amount of the Notes of the applicable series to be redeemed plus, in either

case, accrued and unpaid interest thereon to, but excluding, the date of redemption and (2) a “make-whole” amount calculated

by reference to the sum of the present values of the remaining scheduled payments of principal and interest on the Notes of the

applicable series to be redeemed discounted to the date of redemption . If we elect to redeem a series of Notes on or after the

applicable date described in the preceding sentence, Sysco will pay a redemption price equal to 100% of the principal amount of

the Notes being redeemed plus accrued and unpaid interest thereon to the date of redemption.

The total carrying value of our debt was $14.0 billion as of March 28, 2026 and $13.3 billion as of June 28, 2025. The

increase in the carrying value of our debt during the 39-week period ended March 28, 2026 was due to the issuance of the Notes

and borrowings under our European commercial paper program, partially offset by a senior note that matured in October 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.