debt
confidence high
sentiment neutral
materiality 0.60
Sonoco closes $1.8B note offering; terminates $4B bridge facility tied to Eviosys deal
SONOCO PRODUCTS CO
- Issued $500M of 4.450% notes due 2026, $600M of 4.600% notes due 2029, and $700M of 5.000% notes due 2034.
- Notes are senior unsecured; proceeds expected to fund pending acquisition of Eviosys.
- Special mandatory redemption at 101% of principal for 2029 and 2034 notes if Eviosys deal not closed by Dec 31, 2025.
- Bridge facility commitments of up to $4B terminated concurrent with the offering.
- Interest payable semi-annually starting March 1, 2025.