---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-033319"
form_type: "8-K"
ticker: "SON"
cik: "0000091767"
company_name: "SONOCO PRODUCTS CO"
filed_at: "2026-03-23T23:59:59+00:00"
generated_at: "2026-05-15T09:26:30.553085+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sonoco enters $300M delayed draw term loan facility with Wells Fargo

## Summary
- Term loan facility of up to $300M unsecured, delayed draw available until Sept 13, 2026.
- Matures 2 years after funding date; interest at Term SOFR or base rate plus margin based on credit ratings (0.850%-1.100% for Term SOFR).
- Covenants: maintain Book Net Worth ≥80% of March 31, 2024 level and Consolidated Interest Coverage Ratio ≥3.25x.
- Proceeds for general corporate purposes; voluntary prepayments allowed without penalty.

## SEC filing metadata
- accession: 0001104659-26-033319
- form_type: 8-K
- ticker: SON
- cik: 0000091767
- company_name: SONOCO PRODUCTS CO
- filed_at: 2026-03-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/0001104659-26-033319-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/tm269514d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-033319
- JSON: https://secwatch.observer/filing/0001104659-26-033319.json
- Plain text: https://secwatch.observer/filing/0001104659-26-033319.txt

## Key facts
- Debt Financings
  SONOCO PRODUCTS CO incurred term loan of up to $300 million with Wells Fargo Bank, National Association at Term SOFR plus 0.850% to 1.100% per annum or Base Rate plus 0.000% to 0.100% per maturing second anniversary of the Funding Date.
  - Instrument: term loan
  - Principal: up to $300 million
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Term SOFR plus 0.850% to 1.100% per annum or Base Rate plus 0.000% to 0.100% per
  - Maturity: second anniversary of the Funding Date
  - Event: incurrence
  source text: The Term Credit Agreement provides the Company with a delayed draw term loan facility in an aggregate principal amount of up to $300 million on an unsecured basis (the “Term Loan Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/0001104659-26-033319-index.htm
- Material Agreements
  SONOCO PRODUCTS CO entered into Term Credit Agreement with lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent valued at $300 million (effective 2026-03-23).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent
  - Value: $300 million
  - Effective: 2026-03-23
  source text: On March 23, 2026, Sonoco Products Company (the “Company”) entered into a credit agreement with the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (the “Term Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/0001104659-26-033319-index.htm

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