secwatch.observer — SEC 8-K summary
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Issuer:     SONOCO PRODUCTS CO (SON)
CIK:        0000091767
Form:       8-K
Filed at:   2026-03-23T23:59:59+00:00
Accession:  0001104659-26-033319
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/0001104659-26-033319-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91767/000110465926033319/tm269514d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-033319

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