US Foods Secures $810 Million Term Loan Facility Due 2033 to Refinance Debt

Summary of Material Agreement

On October 2, 2026, US Foods, Inc., a subsidiary of US Foods Holding Corp. ($USFD), entered into the Fourteenth Amendment to its Amended and Restated Term Loan Credit Agreement (dated June 27, 2016) with Citicorp North America, Inc. as administrative and collateral agent, along with participating lenders.

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Key Terms of the 2026 Term Loan Facility

• Principal Amount: $810 million incremental senior secured term loans (the "Extended B-2026 Term Loans").
• Maturity Date: October 2, 2033 (7-year maturity).
• Interest Rate: At the Company's election, either:
  • Term SOFR + 1.50%, or
  • Alternative Base Rate (ABR) + 0.50%.
• Amortization: 1.00% per annum paid in equal quarterly installments, with the remaining balance due upon maturity.
• Prepayment Terms: Voluntarily prepayable without penalty or premium, subject to customary SOFR breakage costs and a 1.00% repricing premium if repriced within six months of closing.
• Guarantees and Collateral: Obligations are guaranteed by certain domestic subsidiaries and secured by capital stock of subsidiaries and substantially all non-real estate assets.

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Use of Proceeds

Borrowings from the facility, combined with cash on hand, were allocated to:

1. Full Repayment: Existing term loans maturing on November 22, 2028 (the Existing B-2021 Term Loans), including cashless rollovers.
2. Partial Prepayment: $100 million principal prepayment of existing term loans maturing October 3, 2031 (the Replacement B-2024 Term Loans), which eliminates mandatory scheduled amortization payments on those loans prior to their maturity date.
3. Revolver Paydown: Prepayment of outstanding borrowings under the Company's asset-based revolving credit facility (ABL Facility).
4. Transaction Expenses: Payment of associated financing and legal fees.

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Balance Sheet & Market Impact

• Maturity Extension: Pushes debt obligations previously due in 2028 out to 2033, smoothing the corporate debt maturity profile.
• Amortization Relief: Eliminates interim amortization obligations on the 2031 term loan tranche.
• Financial Flexibility: Modestly reduces near-term liquidity pressure through revolving facility repayments and favorable debt structure terms.