Chefs' Warehouse Raises $250M Through Debt Offering

  • Chefs' Warehouse Inc CHEF has priced the $250 million aggregate principal amount of 2.375% convertible senior notes due 2028.
  • The company also granted the initial purchasers of the convertible notes an option to purchase additional $37.5 million of convertible notes.
  • The sale of convertible notes to the initial purchasers is expected to settle on December 13, 2022.
  • The notes will bear interest at a rate of 2.375% per year and will pay interest semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2023. 
  • The company expects to use approximately $159.8 million of the net proceeds to pay concurrent exchange transactions and the remainder for general corporate purposes.
  • Price Action: CHEF shares are trading lower by 0.09% at $34.02 on the last check Friday.
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