{"schema_version":"secwatch.filing_event.v1","accession":"0000091388-26-000060","form_type":"8-K","ticker":"SFD","cik":"0000091388","company_name":"SMITHFIELD FOODS INC","filed_at":"2026-10-16T12:16:41+00:00","discovered_at":"2026-10-16T12:20:00.304320+00:00","generated_at":"2026-10-16T12:20:04.049084+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Smithfield signs $600M delayed-draw term loan to redeem 4.250% senior notes due 2027","bullets":["$600M senior unsecured delayed draw term loan dated October 14, 2026; single drawing available until December 23, 2026, maturing three years from funding.","Proceeds will fund redemption on or after November 1, 2026 of all outstanding 4.250% Senior Notes due 2027 at 100.000% of principal plus accrued interest.","Interest at Term SOFR plus 0.875%-1.375%, or base rate plus 0.000%-0.375%, set by S&P/Moody's/Fitch ratings, with Pricing Level 5 applying absent ratings.","Covenants: maximum debt-to-capitalization of 50.0%, raised to 55.0% for the quarter of a Material Acquisition plus three following quarters, and interest coverage of at least 3.50 to 1.00.","Bank of America, N.A. is administrative agent; BofA Securities and AgFirst Farm Credit Bank are joint lead arrangers and bookrunners; no subsidiary guarantors exist as of signing."],"urls":{"canonical":"https://secwatch.observer/filing/0000091388-26-000060","json":"https://secwatch.observer/filing/0000091388-26-000060.json","markdown":"https://secwatch.observer/filing/0000091388-26-000060.md","text":"https://secwatch.observer/filing/0000091388-26-000060.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/91388/000009138826000060/0000091388-26-000060-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/91388/000009138826000060/sfd-20261014.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-16T12:20:04.049084+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}