---
schema_version: "secwatch.filing_event.v1"
accession: "0000091767-22-000070"
form_type: "8-K"
ticker: "SON"
cik: "0000091767"
company_name: "SONOCO PRODUCTS CO"
filed_at: "2022-12-07T23:59:59+00:00"
generated_at: "2026-06-21T08:30:51.695514+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Sonoco enters $400M unsecured term loan facility, draws full amount on Dec 2, 2022

## Summary
- $400M unsecured term loan facility with JPMorgan as administrative agent; full amount drawn on Dec 2, 2022.
- Loan matures Dec 1, 2023; interest rate at Term SOFR plus 1.475% margin initially.
- Proceeds for general corporate purposes including repayment of short-term debt; no required amortization.
- Voluntary prepayments permitted without penalty subject to minimum notice and amount conditions.

## SEC filing metadata
- accession: 0000091767-22-000070
- form_type: 8-K
- ticker: SON
- cik: 0000091767
- company_name: SONOCO PRODUCTS CO
- filed_at: 2022-12-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91767/000009176722000070/0000091767-22-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91767/000009176722000070/son-20221202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091767-22-000070
- JSON: https://secwatch.observer/filing/0000091767-22-000070.json
- Plain text: https://secwatch.observer/filing/0000091767-22-000070.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176722000070/0000091767-22-000070-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176722000070/0000091767-22-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.