secwatch.observer — SEC 8-K summary
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Issuer:     SONOCO PRODUCTS CO (SON)
CIK:        0000091767
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0000091767-23-000049
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/0000091767-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91767/000009176723000049/son-20230807.htm
  HTML page:      https://secwatch.observer/filing/0000091767-23-000049

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