secwatch.observer — SEC 8-K summary
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Issuer:     Ingredion Inc (INGR)
CIK:        0001046257
Form:       8-K
Filed at:   2022-12-16T23:59:59+00:00
Accession:  0001193125-22-307344
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ingredion enters $200M 24-month term loan with PNC, repays existing debt
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- Borrowed $200M under senior unsecured term loan on Dec 16, 2022; matures Dec 16, 2024.
- Interest rate is Adjusted Daily SOFR plus 1.10% per annum, payable quarterly.
- Proceeds used to repay existing indebtedness; no premium or penalty for prepayment.
- Financial covenants: max leverage ratio 3.5:1, min interest coverage ratio 3.5:1.
- Standard covenants restrict subsidiary debt, liens, mergers, asset sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046257/000119312522307344/0001193125-22-307344-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046257/000119312522307344/d397005d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-307344

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