---
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"
generated_at: "2026-06-11T21:02:06.174525+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Sonoco enters $900M term loan, draws $600M; ups revolver to $900M

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091767-23-000049
- JSON: https://secwatch.observer/filing/0000091767-23-000049.json
- Plain text: https://secwatch.observer/filing/0000091767-23-000049.txt

## Key facts
- Debt Financings
  SONOCO PRODUCTS CO amended revolving credit of $900 million with CoBank, FCB.
  - Instrument: revolving credit
  - Principal: $900 million
  - Counterparty: CoBank, FCB
  - Event: amendment
  source text: the Amendment increases commitments under the Company's existing revolving credit facility by $150 million to an aggregate amount of $900 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm
- Debt Financings
  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.
  - Instrument: credit facility
  - Principal: $900 million
  - Counterparty: CoBank, ACB
  - Rate: Term SOFR plus applicable margin of 1.90%
  - Maturity: August 7, 2028
  - Event: incurrence
  source text: the Term Loan Agreement provides the Company with the ability to borrow up to $900 million on an unsecured basis
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: a consortium of Farm Credit System institutions and CoBank, ACB, as Administrative Agent
  - Value: $900 million
  - Effective: 2023-08-07
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm
- Material Agreements
  SONOCO PRODUCTS CO amended Third Amendment to Credit Agreement and Incremental Increase Agreement with CoBank, FCB valued at $150 million (effective 2023-08-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: CoBank, FCB
  - Value: $150 million
  - Effective: 2023-08-07
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm

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