Benzinga | Jul 12, 2021 10:11AM EDT

Performance Food Seeks To Raise $780M To Finance Core-Mark Acquisition

* Performance Food Group Co's (NYSE:PFGC) indirect wholly-owned subsidiary has announced its plan to offer $780 million of Senior Notes due 2029.

* The company will use the proceeds to finance the cash consideration payable in connection with its previously announced acquisition of Core-Mark Holding Company, Inc. (NASDAQ:CORE) and to pay related fees and expenses.

* The closing of the offering is not conditioned on the close of the acquisition.

* Performance Food Group held $101.5 million in cash as of March 27, 2021.

* Price action: PFGC shares are trading higher by 0.17% at $48.70, while CORE was down 0.02% at $44.51 on the last check Monday.