secwatch.observer — SEC 8-K summary
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Issuer:     SunOpta Inc. (STKL)
CIK:        0000351834
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001062993-23-022544
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 7.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/0001062993-23-022544-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/351834/000106299323022544/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-23-022544

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