Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a 144A/Regulation S offering of $500 million aggregate principal amount of 6.75% Senior Notes due 2028 by United Natural Foods, Inc. (“UNFI”). The notes are guaranteed on a senior unsecured basis by each of UNFI’s existing and future subsidiaries that are borrowers under or that guarantee UNFI’s senior secured credit facilities.
UNFI intends to use the net proceeds from the transaction, together with borrowings under its ABL credit facility, to repay a portion of the amounts outstanding under its existing term loan facility and for the payment of all fees and expenses related to the offering and such repayment.
UNFI (NYSE: UNFI) is a leading distributor of natural, organic, specialty, produce, and conventional grocery and nonfood products, and provider of retailer services in the United States and Canada.
The Simpson Thacher team included Art Robinson, Patrick Baron and Della Fok (Capital Markets); Jonathan Cantor and Suzy Yaster (Tax); Genevieve Dorment and Corina McIntyre (Intellectual Property); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Andrew Pagliughi (Blue Sky).