{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-22-307333","form_type":"8-K","ticker":"UVV","cik":"0000102037","company_name":"UNIVERSAL CORP /VA/","filed_at":"2022-12-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.253873+00:00","generated_at":"2026-06-21T03:03:46.506764+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Universal Corp enters new $1.15B credit agreement, replacing prior facility","bullets":["New credit agreement includes $275M term loan A-1 (5-year), $345M term loan A-2 (7-year), and $530M revolving credit facility (5-year).","Existing credit agreement terminated and repaid with proceeds from new facility.","Financial covenants: max total leverage ratio 3.00x, minimum tangible net worth $1.0B.","Expansion option allows up to $200M additional commitments without consent of non-participating lenders.","Loans unsecured; interest rates based on SOFR plus spreads 1.25%-2.75% depending on leverage."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-22-307333","json":"https://secwatch.observer/filing/0001193125-22-307333.json","markdown":"https://secwatch.observer/filing/0001193125-22-307333.md","text":"https://secwatch.observer/filing/0001193125-22-307333.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/d420665d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T03:03:46.506764+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2c6ba8e7707f0c38d9103364e91ac8d5189b4589","claim":"UNIVERSAL CORP /VA/ incurred revolving credit of $530,000,000 with JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents at ABR Loans: 0.65% per annum; Term Benchmark Loans: 1.65% per annum (initial Appli maturing five-year term from December 15, 2022.","evidence_excerpt":"The Credit Agreement provides for (i) a five-year term loan A-1 facility in the amount of $275,000,000 (the loans thereunder, the \"Term A-1 Loans\"), (ii) a seven-year term loan A-2 facility in the amount of $345,000,000 (the loans thereunder, the \"Term A-2 Loans\") and (iii) a five-year revolving loan facility (the \"Revolving Credit Facility\") of $530,000,000 (the loans thereunder, the \"Revolving Credit Loans\" and, collectively with the Term A-1 Loans and the Term A-2 Loans, the \"Loans\"), of which up to $25,000,000 is available for letters of credit and, at the swingline lender's discretion, up to $20,000,000 is available for short-term borrowings on a swingline basis.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$530,000,000"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents"},{"label":"Rate","value":"ABR Loans: 0.65% per annum; Term Benchmark Loans: 1.65% per annum (initial Appli"},{"label":"Maturity","value":"five-year term from December 15, 2022"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4de8fad3199c323fcfb80bba28d9af9d6feabb25","claim":"UNIVERSAL CORP /VA/ incurred term loan of $345,000,000 with JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents at ABR Loans: 1.25% per annum; Term Benchmark Loans: 2.25% per annum (initial Appli maturing seven-year term from December 15, 2022.","evidence_excerpt":"The Credit Agreement provides for (i) a five-year term loan A-1 facility in the amount of $275,000,000 (the loans thereunder, the \"Term A-1 Loans\"), (ii) a seven-year term loan A-2 facility in the amount of $345,000,000 (the loans thereunder, the \"Term A-2 Loans\") and (iii) a five-year revolving loan facility (the \"Revolving Credit Facility\") of $530,000,000 (the loans thereunder, the \"Revolving Credit Loans\" and, collectively with the Term A-1 Loans and the Term A-2 Loans, the \"Loans\"), of which up to $25,000,000 is available for letters of credit and, at the swingline lender's discretion, up to $20,000,000 is available for short-term borrowings on a swingline basis.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$345,000,000"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents"},{"label":"Rate","value":"ABR Loans: 1.25% per annum; Term Benchmark Loans: 2.25% per annum (initial Appli"},{"label":"Maturity","value":"seven-year term from December 15, 2022"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"84f87ced8ee3b1a9b116a435831328defa61acde","claim":"UNIVERSAL CORP /VA/ incurred term loan of $275,000,000 with JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents at ABR Loans: 1.00% per annum; Term Benchmark Loans: 2.00% per annum (initial Appli maturing five-year term from December 15, 2022.","evidence_excerpt":"The Credit Agreement provides for (i) a five-year term loan A-1 facility in the amount of $275,000,000 (the loans thereunder, the \"Term A-1 Loans\"), (ii) a seven-year term loan A-2 facility in the amount of $345,000,000 (the loans thereunder, the \"Term A-2 Loans\") and (iii) a five-year revolving loan facility (the \"Revolving Credit Facility\") of $530,000,000 (the loans thereunder, the \"Revolving Credit Loans\" and, collectively with the Term A-1 Loans and the Term A-2 Loans, the \"Loans\"), of which up to $25,000,000 is available for letters of credit and, at the swingline lender's discretion, up to $20,000,000 is available for short-term borrowings on a swingline basis.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$275,000,000"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents"},{"label":"Rate","value":"ABR Loans: 1.00% per annum; Term Benchmark Loans: 2.00% per annum (initial Appli"},{"label":"Maturity","value":"five-year term from December 15, 2022"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1a4f710a4e2bf43e74378e6f22b978e406538586","claim":"UNIVERSAL CORP /VA/ terminated Existing Credit Agreement (effective 2022-12-15).","evidence_excerpt":"On December 13, 2022, the Company provided written notice of prepayment and termination of the Existing Credit Agreement as of December 15, 2022, conditioned upon the effectiveness of a new credit facility","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","confidence":0.5,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Effective","value":"2022-12-15"}],"fact_type":"material_agreement"},{"claim_id":"53da8215b2236c2b0edb77ccff6bad99ead87d0b","claim":"UNIVERSAL CORP /VA/ entered into Credit Agreement with JPMorgan Chase Bank, N.A., Truist Bank, AgFirst Farm Credit Bank, First Horizon Bank, KeyBank National Association, and Citibank, N.A. valued at $275,000,000, $345,000,000, $530,000,000 (effective 2022-12-15).","evidence_excerpt":"On December 15, 2022, Universal Corporation (the “Company”) entered into a new Credit Agreement, with JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents and First Horizon Bank, KeyBank National Association and Citibank, N.A., as Co-Documentation Agents (the “Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/102037/000119312522307333/0001193125-22-307333-index.htm","confidence":0.5,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., Truist Bank, AgFirst Farm Credit Bank, First Horizon Bank, KeyBank National Association, and Citibank, N.A."},{"label":"Value","value":"$275,000,000, $345,000,000, $530,000,000"},{"label":"Effective","value":"2022-12-15"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}