Performance Food Group Completes Offering of up to $200 million of Senior Secured Notes
Cahill represented the purchasers in connection with Performance Food Group, Inc.’s private placement of up to $200 million aggregate principal amount of 11% Senior Secured Notes due 2015 (Series B), of which $150 million was funded at closing, and $50 million may be drawn within a specified period. The Series B notes rank pari passu with the Company’s existing $300 million of 11% Senior Secured Notes due 2015, and Cahill also represented the existing holders in connection with the amendment of the existing notes to permit the new offering. The offering was initially funded as a term loan, and the Series B notes were issued in exchange for this term loan. The proceeds will be used to finance acquisitions.