Lamb Weston subsidiary enters RMB 1.079B term loan for China capex

Lamb Weston Holdings, Inc.

Ulanqab Lamb Weston Food Co., Ltd. (wholly-owned LW subsidiary) signed Facility Agreement for RMB 1,079,000,000 (~USD 170.6M) term loan.
Matures Feb 18, 2027; drawn until Feb 2024 (extendable to Feb 2025 if 50% drawn in initial period).
Interest rate: PRC 5-year LPR + 0.30% per annum; amortization starts 36 months after initial draw.
Proceeds for fixed asset investment in Inner Mongolia french fry/hash brown production lines (108,000 tons/year capacity).
Loan is unconditionally guaranteed by Lamb Weston Holdings, Inc. (parent).

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