Performance Food Group Company Announces Pricing of Offering of $350 Million of 5.500% Senior Notes due
2024
Performance Food Group Company (“PFG”) (NYSE: PFGC) announced today that its indirect subsidiary, Performance Food Group, Inc.
(the “Issuer,” and, together with PFG and subsidiaries, the “Company”) priced its previously announced offering of $350 million
aggregate principal amount of 5.500% Senior Notes due 2024 (the “notes”). The Company anticipates that the consummation of the
offering will occur on May 17, 2016. The Company intends to use the net proceeds from the offering to repay all outstanding
borrowings under its existing term loan facility and to terminate that facility and temporarily repay a portion of its borrowings
under its existing asset-based revolving credit facility. No assurances may be given that these transactions will be completed on
the timeline, in the amount or on the terms presently contemplated by the Company or at all.
The notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
The notes will be offered by the initial purchasers only to persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on
Regulation S under the Securities Act.
This press release is being issued pursuant to Rule 135(c) under the Securities Act, and it is neither an offer to sell nor a
solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a
sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not
limited to, all statements that do not relate solely to historical or current facts. You can identify these forward-looking
statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,”
“could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or
other comparable words.
Such forward-looking statements are subject to various risks and uncertainties that could cause actual future results to
differ materially from those expressed in any forward-looking statements.
Any forward-looking statement speaks only as of the time of this release and we do not undertake to update or revise them as
more information becomes available or to disclose any facts, events, or circumstances after the date of this release that may
affect the accuracy of any forward-looking statement, except as required by law.
Performance Food Group Company
Investors:
Michael D. Neese
VP, Investor Relations
804-287-8126
michael.neese@pfgc.com
or
Media:
Joe Vagi
Manager, Corporate Communications
804-484-7737
joe.vagi@pfgc.com
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