Performance Food Group Announces $1.06 Billion Senior Notes Offering

Proceeds to be used to redeem existing senior notes

Published on Feb. 9, 2026

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Performance Food Group Company (PFG) announced that its subsidiary, Performance Food Group, Inc., intends to offer $1.06 billion in senior notes due 2034. The company plans to use the net proceeds, along with borrowings from its revolving credit facility, to redeem all of its outstanding 5.500% Senior Notes due 2027 and pay related fees and expenses.

Why it matters

The planned debt offering and refinancing will help PFG, one of the largest food and foodservice distribution companies in North America, manage its capital structure and debt obligations. This move comes as the company navigates industry challenges like cost inflation, labor shortages, and competition.

The details

The new senior notes will be guaranteed by PFG's parent company, PFGC, Inc., and its existing and future material wholly-owned domestic restricted subsidiaries. The notes have not been registered under the Securities Act and will be offered only to qualified institutional buyers and non-U.S. persons. PFG says the offering is subject to market and other conditions.

  • The offering is expected to close in the coming weeks, subject to market conditions.

The players

Performance Food Group Company

An industry-leading food and foodservice distribution company with over 150 locations across North America.

Performance Food Group, Inc.

The indirect wholly-owned subsidiary of Performance Food Group Company that will issue the $1.06 billion in senior notes.

PFGC, Inc.

The direct parent company of Performance Food Group, Inc. that will guarantee the new senior notes.

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What’s next

PFG plans to use the proceeds from the new senior notes offering, along with borrowings from its revolving credit facility, to redeem all of its outstanding 5.500% Senior Notes due 2027.

The takeaway

This debt refinancing transaction allows PFG to manage its capital structure and debt obligations as it navigates industry challenges, demonstrating the company's financial flexibility and commitment to prudent capital management.