secwatch.observer — SEC 8-K summary
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Issuer:     SEABOARD CORP /DE/ (SEB)
CIK:        0000088121
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0000088121-23-000100
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seaboard upsizes term loan to $975M, extends maturity to 2033
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- Seaboard Foods LLC increased its unsecured term loan from $700M to $975M.
- New credit agreement matures November 10, 2033, with annual principal amortization of about 1%.
- Interest rate options include Base Rate, Term SOFR, Daily Simple SOFR, or Quoted Rate.
- Covenants include max debt-to-capitalization ratio and minimum tangible net worth; mandatory prepayments on equity issuances and asset sales.
- Seaboard Corporation guarantees all obligations of Seaboard Foods under the agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88121/000008812123000100/0000088121-23-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88121/000008812123000100/seb-20231110x8k.htm
  HTML page:      https://secwatch.observer/filing/0000088121-23-000100

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