---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-23-022544"
form_type: "8-K"
ticker: "STKL"
cik: "0000351834"
company_name: "SunOpta Inc."
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T13:09:11.100499+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SunOpta enters new $265M credit facilities, repays existing debt

## Summary
- New $180M term loan and $85M revolver, with $210M drawn at closing, used to fully repay 2020 credit facility and capital leases.
- Five-year term; initial margin 1.75% on base rate borrowings and 2.75% on SOFR/alternative currency borrowings.
- Covenants include minimum fixed charge coverage of 1.20x and maximum total net leverage stepping down from 4.00x to 3.50x by Dec 2025.
- Facilities oversubscribed; Bank of America acts as administrative agent; CFO cites improved flexibility and stronger balance sheet.

## SEC filing metadata
- accession: 0001062993-23-022544
- form_type: 8-K
- ticker: STKL
- cik: 0000351834
- company_name: SunOpta Inc.
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 7.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/0001062993-23-022544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-23-022544
- JSON: https://secwatch.observer/filing/0001062993-23-022544.json
- Plain text: https://secwatch.observer/filing/0001062993-23-022544.txt

## Key facts
- Debt Financings
  SunOpta Inc. incurred credit facility of $180.0 million term loan credit facility at initial margin ... 1.75% with respect to base rate borrowings and 2.75% with res.
  - Instrument: credit facility
  - Principal: $180.0 million term loan credit facility
  - Rate: initial margin ... 1.75% with respect to base rate borrowings and 2.75% with res
  - Event: incurrence
  source text: On December 8, 2023 (the "Closing Date"), SunOpta Inc. (the "Company" or the "Borrower") and certain other subsidiaries of the Company entered into (x) a new $180.0 million term loan credit facility (the "New Term Loan Credit Facility")
  evidence_url: https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/0001062993-23-022544-index.htm
- Debt Financings
  SunOpta Inc. incurred revolving credit of $85.0 million revolving credit facility at initial margin ... 1.75% with respect to base rate borrowings and 2.75% with res.
  - Instrument: revolving credit
  - Principal: $85.0 million revolving credit facility
  - Rate: initial margin ... 1.75% with respect to base rate borrowings and 2.75% with res
  - Event: incurrence
  source text: the "Borrower") and certain other subsidiaries of the Company entered into (x) a new $180.0 million term loan credit facility (the "New Term Loan Credit Facility") and (y) a new $85.0 million revolving credit facility (the "New Revolving Credit Facility" and, together with the New Term Loan Credit Facility, the "New Credit Facilities"). The New Credit Facilities
  evidence_url: https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/0001062993-23-022544-index.htm
- Material Agreements
  SunOpta Inc. entered into New Credit Facilities with lenders under the New Credit Facilities valued at $180.0 million term loan credit facility and $85.0 million revolving credit facility (effective 2023-12-08).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: lenders under the New Credit Facilities
  - Value: $180.0 million term loan credit facility and $85.0 million revolving credit facility
  - Effective: 2023-12-08
  source text: On December 8, 2023 (the "Closing Date"), SunOpta Inc. (the "Company" or the "Borrower") and certain other subsidiaries of the Company entered into (x) a new $180.0 million term loan credit facility (the "New Term Loan Credit Facility") and (y) a new $85.0 million revolving credit facility (the "New Revolving Credit Facility" and, together with the New Term Loan Credit Facility, the "New Credit Facilities").
  evidence_url: https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/0001062993-23-022544-index.htm

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