Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SONOCO PRODUCTS CO incurred term loan of up to $400 million with JPMorgan Chase Bank, N.A., as Administrative Agent and a consortium of banks at Term SOFR Loans plus margin currently applicable of 1.475% maturing December 1, 2023.
- Instrument
- term loan
- Principal
- up to $400 million
- Counterparty
- JPMorgan Chase Bank, N.A., as Administrative Agent and a consortium of banks
- Rate
- Term SOFR Loans plus margin currently applicable of 1.475%
- Maturity
- December 1, 2023
- Event
- incurrence
Exact text from the filing
On December 2, 2022, Sonoco Products Company (the “Company”) entered into a credit agreement with a consortium of banks and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Term Loan Agreement”). The Term Loan Agreement provides the Company with the ability to borrow up to $400 million on an unsecured basis (the “Term Loan Facility”) the proceeds of which will be used for general corporate purposes, including repayment of certain short-term debt.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SONOCO PRODUCTS CO entered into Term Loan Agreement with JPMorgan Chase Bank, N.A. valued at $400,000,000 (effective 2022-12-02).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A.
- Value
- $400,000,000
- Effective
- 2022-12-02
Exact text from the filing
On December 2, 2022, Sonoco Products Company (the "Company") entered into a credit agreement with a consortium of banks and JPMorgan Chase Bank, N.A., as Administrative Agent (the "Term Loan Agreement"). The Term Loan Agreement provides the Company with the ability to borrow up to $400 million on an unsecured basis (the "Term Loan Facility") the proceeds of which will be used for general corporate purposes, including repayment of certain short-term debt. The full $400 million available under the Term Loan Facility was drawn on December 2, 2022.
View on SEC.gov