---
schema_version: "secwatch.filing_event.v1"
accession: "0000091767-24-000032"
form_type: "8-K"
ticker: "SON"
cik: "0000091767"
company_name: "SONOCO PRODUCTS CO"
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T21:32:52.731265+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Sonoco upsizes revolver to $1.25B, extends maturity to 2029

## Summary
- Revolving credit facility increased from $900M to $1,250M; maturity extended to May 3, 2029.
- Commercial paper program increased from $500M to $1,250M, backed by the facility.
- Interest rate uses Term SOFR plus margin based on credit ratings; current all-in drawn rate 1.125%.
- Pricing grid: facility fee 0.125% at BBB/Baa2; drawn L/C fee 1.125%.
- Covenants include minimum Book Net Worth and consolidated interest coverage ratio.

## SEC filing metadata
- accession: 0000091767-24-000032
- form_type: 8-K
- ticker: SON
- cik: 0000091767
- company_name: SONOCO PRODUCTS CO
- filed_at: 2024-05-07T23:59:59+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/91767/000009176724000032/0000091767-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91767/000009176724000032/son-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091767-24-000032
- JSON: https://secwatch.observer/filing/0000091767-24-000032.json
- Plain text: https://secwatch.observer/filing/0000091767-24-000032.txt

## Key facts
- Debt Financings
  SONOCO PRODUCTS CO incurred revolving credit of $1,250 million at Term SOFR plus 10 basis points SOFR Adjustment and applicable margin of 125.0 ba maturing May 3, 2029.
  - Instrument: revolving credit
  - Principal: $1,250 million
  - Rate: Term SOFR plus 10 basis points SOFR Adjustment and applicable margin of 125.0 ba
  - Maturity: May 3, 2029
  - Event: incurrence
  source text: The Agreement increases the commitments under the Company's revolving credit facility by $350 million to an aggregate amount of $1,250 million and extends the maturity date to May 3, 2029.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176724000032/0000091767-24-000032-index.htm
- Material Agreements
  SONOCO PRODUCTS CO entered into Amended and Restated Credit Agreement with the lenders party thereto valued at $1,250 million revolving credit facility maturing May 3, 2029 (effective 2024-05-03).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: the lenders party thereto
  - Value: $1,250 million revolving credit facility maturing May 3, 2029
  - Effective: 2024-05-03
  source text: On May 3, 2024, Sonoco Products Company (the “Company”) entered into an Amended and Restated Credit Agreement (the “Agreement”) to extend the maturity and make certain other changes to the terms under the Company’s existing five-year credit agreement dated June 21, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000009176724000032/0000091767-24-000032-index.htm

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