Ingredion Inc (INGR): debt financing — Ingredion enters $1.0B five-year revolving credit facility, replacing prior facility

Ingredion Inc

$1.0B unsecured revolving credit facility maturing August 27, 2030; no borrowings drawn at closing.
Replaces prior $1.0B facility dated June 30, 2021 (would have matured June 30, 2026).
SOFR margin initially 1.00%; base rate margin 0.00%; unused commitment fee 0.09% per annum.
Financial covenants: maximum leverage ratio 3.5:1; minimum interest coverage ratio 3.5:1.
Up to $500M available for subsidiary borrowers; option to request incremental commitments up to $750M.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ingredion Inc incurred revolving credit of $1.0 billion with JPMorgan Chase Bank, N.A. and J.P. Morgan SE, as administrative agent at SOFR plus 1.00% or base rate plus 0.00% maturing August 27, 2030.

Instrument: revolving credit
Principal: $1.0 billion
Counterparty: JPMorgan Chase Bank, N.A. and J.P. Morgan SE, as administrative agent
Rate: SOFR plus 1.00% or base rate plus 0.00%
Maturity: August 27, 2030
Event: incurrence

Exact text from the filing

described in Item 1.02 below, which was terminated. The Credit Agreement provides for a five-year unsecured revolving credit facility in an aggregate principal amount of $1.0 billion outstanding at any time (the “Revolving Credit Facility”), of which up to $25 million is available as swingline loans and up to $50 million as letters of credit. Loans under the

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Source: SEC EDGAR

accession 0001046257-25-000070

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