Sonoco amends credit agreement with $800M term loan facilities, refinances $500M term loan due 2028

SONOCO PRODUCTS CO

Entered First Amendment to credit agreement with CoBank, creating $400M Tranche A term loan maturing Dec. 31, 2029 and $400M Tranche B delayed-draw term loan maturing Dec. 31, 2031.
Borrowed $500M on Sept. 25, 2026 - $400M under Tranche A and $100M under Tranche B - to refinance its existing $500M syndicated term loan that was scheduled to mature in August 2028.
Remaining $300M Tranche B can be drawn in up to three draws of at least $25M each within 12 months; Sonoco expects to use it to refinance certain outstanding indebtedness at a later date.
Tranche A pricing: SOFR + 1.575%-2.075% or base rate + 0.575%-1.075%; Tranche B: SOFR + 1.675%-2.175%, base rate + 0.675%-1.175%, plus ticking fee 0.100%-0.225% on unused commitments.
Term loans have no scheduled amortization before maturity and are prepayable without premium or penalty; covenants include minimum book net worth and interest coverage ratio.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.