US Foods sets IPO terms, would raise about $1B at midpoint price
May 16, 2016
US Foods will list its shares on the NYSE under the symbol USFD, with its IPO priced between $21 and $24 per share. The foodservice distributor will use proceeds from the offering to repay $932 million of the principal amount of its outstanding senior notes and pay the related redemption premium. After completion of the offering, Clayton, Dubilier & Rice (49.25% pre-IPO) and KKR (49.25%) will continue to own a majority of the voting power.