United Natural Foods’ $500 Million High Yield Bond Offering

Simpson Thacher represented the initial purchasers in the offering.

United Natural Foods, Inc. (“UNFI”) executed its offering of $500 million aggregate principal amount of 6.75% Senior Notes due 2028. 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 advising the initial purchasers, led by J.P. Morgan Securities LLC, included Art Robinson (Picture), 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).

Involved fees earner: Patrick Baron – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Della Fok – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Ambrogio Visconti