{"schema_version":"secwatch.filing_event.v1","accession":"0000091767-23-000049","form_type":"8-K","ticker":"SON","cik":"0000091767","company_name":"SONOCO PRODUCTS CO","filed_at":"2023-08-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.023091+00:00","generated_at":"2026-06-11T21:02:06.174525+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Sonoco enters $900M term loan, draws $600M; ups revolver to $900M","bullets":["$600M drawn on Aug 7 to refinance near-term debt and fund rural waste disposal capex.","Remaining $300M to be drawn in 2023 for RTS Packaging acquisition from WestRock.","Term loan matures Aug 7, 2028; interest at Term SOFR + 1.90% margin initially.","Revolving credit facility increased by $150M to $900M via amendment with CoBank.","No required amortization; revolver supports $500M commercial paper program."],"urls":{"canonical":"https://secwatch.observer/filing/0000091767-23-000049","json":"https://secwatch.observer/filing/0000091767-23-000049.json","markdown":"https://secwatch.observer/filing/0000091767-23-000049.md","text":"https://secwatch.observer/filing/0000091767-23-000049.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/son-20230807.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T21:02:06.174525+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":[{"claim_id":"3acde0bffc2fc31b7abff5399cada1f87d94fea5","claim":"SONOCO PRODUCTS CO amended revolving credit of $900 million with CoBank, FCB.","evidence_excerpt":"the Amendment increases commitments under the Company's existing revolving credit facility by $150 million to an aggregate amount of $900 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$900 million"},{"label":"Counterparty","value":"CoBank, FCB"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"88593d819c42d0f104b9dd300dc572149dfba88f","claim":"SONOCO PRODUCTS CO incurred credit facility of $900 million with CoBank, ACB at Term SOFR plus applicable margin of 1.90% maturing August 7, 2028.","evidence_excerpt":"the Term Loan Agreement provides the Company with the ability to borrow up to $900 million on an unsecured basis","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$900 million"},{"label":"Counterparty","value":"CoBank, ACB"},{"label":"Rate","value":"Term SOFR plus applicable margin of 1.90%"},{"label":"Maturity","value":"August 7, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"102955f1f45d5b1bdce2a1b3819bdeb971adf484","claim":"SONOCO PRODUCTS CO entered into Term Loan Agreement with a consortium of Farm Credit System institutions and CoBank, ACB, as Administrative Agent valued at $900 million (effective 2023-08-07).","evidence_excerpt":"On August 7, 2023, Sonoco Products Company (the “Company”) entered into a credit agreement with a consortium of Farm Credit System institutions and CoBank, ACB, as Administrative Agent (the “Term Loan Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"a consortium of Farm Credit System institutions and CoBank, ACB, as Administrative Agent"},{"label":"Value","value":"$900 million"},{"label":"Effective","value":"2023-08-07"}],"fact_type":"material_agreement"},{"claim_id":"707fa01c0fcb27dedb7967630520b9769dbfddaf","claim":"SONOCO PRODUCTS CO amended Third Amendment to Credit Agreement and Incremental Increase Agreement with CoBank, FCB valued at $150 million (effective 2023-08-07).","evidence_excerpt":"on August 7, 2023, the Company executed the “Third Amendment to Credit Agreement and Incremental Increase Agreement” (the “Amendment”). The Amendment increases commitments under the Company's existing revolving credit facility by $150 million to an aggregate amount of $900 million, with CoBank, FCB, as a new lender.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"CoBank, FCB"},{"label":"Value","value":"$150 million"},{"label":"Effective","value":"2023-08-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}