secwatch.observer — SEC 8-K summary
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Issuer:     HORMEL FOODS CORP /DE/ (HRL)
CIK:        0000048465
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0000048465-25-000015
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hormel Foods enters $750M revolving credit facility maturing 2030
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- New $750M unsecured revolving credit facility replaces prior May 2021 facility; includes $375M uncommitted increase option.
- Facility matures March 25, 2030; interest margins based on debt ratings: 0.575-1.160% for eurocurrency loans, 0.0-0.160% for base rate loans.
- Financial covenant requires minimum consolidated interest coverage ratio of 3.50:1.00 at each fiscal quarter end.
- Facility fees range from 0.050% to 0.090% of daily revolving commitment, adjusted by S&P/Moody's ratings.
- Proceeds to refinance existing debt, fund working capital, and general corporate purposes including acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48465/000004846525000015/0000048465-25-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48465/000004846525000015/hrl-20250325.htm
  HTML page:      https://secwatch.observer/filing/0000048465-25-000015

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