secwatch.observer — SEC 8-K summary
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Issuer:     SONOCO PRODUCTS CO (SON)
CIK:        0000091767
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0000091767-24-000032
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonoco upsizes revolver to $1.25B, extends maturity to 2029
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91767/000009176724000032/0000091767-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91767/000009176724000032/son-20240503.htm
  HTML page:      https://secwatch.observer/filing/0000091767-24-000032

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