Conagra enters $500M term loan and $2.0B revolver, extends debt maturities

CONAGRA BRANDS INC.

New $500M unsecured term loan (delayed draw) matures Aug 26, 2025; proceeds to fund debt maturing in FY2023.
New $2.0B unsecured revolver (expandable to $2.5B) matures Aug 26, 2027; replaces $0-outstanding facility due July 2024.
Term loan interest at Term SOFR + 0.10% + 0.90%-1.375% spread based on debt ratings.
Revolver facility fee 0.07%-0.20% p.a.; interest at Term SOFR + 0.10% + 0.93%-1.30% spread.
Both facilities carry customary covenants: max net leverage and min interest coverage ratios.

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