---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-244125"
form_type: "8-K"
ticker: "SJM"
cik: "0000091419"
company_name: "J M SMUCKER Co"
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T08:00:37.463290+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Smucker enters $800M term loan facility to finance Hostess Brands acquisition

## Summary
- Unsecured $800M term facility; matures 3 years after Hostess Brands acquisition closing.
- Proceeds to finance Hostess Brands acquisition, refinance existing Hostess debt, and pay fees.
- Interest at Base Rate or Term SOFR plus margins (0-0.625% Base Rate; 1-1.625% Term SOFR) based on debt rating.
- Covenant: interest coverage ratio (EBITDA/cash interest expense) at least 3.75:1.00 quarterly after closing.
- Several lenders include Bank of America, RBC, JPMorgan, PNC; administrative agent is Bank of America.

## SEC filing metadata
- accession: 0001193125-23-244125
- form_type: 8-K
- ticker: SJM
- cik: 0000091419
- company_name: J M SMUCKER Co
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/0001193125-23-244125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/d532147d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-244125
- JSON: https://secwatch.observer/filing/0001193125-23-244125.json
- Plain text: https://secwatch.observer/filing/0001193125-23-244125.txt

## Key facts
- Debt Financings
  J M SMUCKER Co incurred term loan of $800 million with Bank of America, N.A. at base rate or Term SOFR rate plus applicable margin (base rate margin 0.000%–0.62 maturing third anniversary of the Acquisition Closing Date.
  - Instrument: term loan
  - Principal: $800 million
  - Counterparty: Bank of America, N.A.
  - Rate: base rate or Term SOFR rate plus applicable margin (base rate margin 0.000%–0.62
  - Maturity: third anniversary of the Acquisition Closing Date
  - Event: incurrence
  source text: On September 27, 2023, The J. M. Smucker Company (the “Company”) entered into that certain Term Loan Credit Agreement (the “Term Loan Agreement”) with the various lenders named therein and Bank of America, N.A., as administrative agent for the lenders (the “Term Loan Agent”). The Term Loan Agreement provides for an unsecured $800 million term facility that may be borrowed substantially concurrently with the closing of the Acquisition (as defined below) and matures on the third anniversary of the Acquisition Closing Date (as defined below) (the “Term Loan Maturity Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/0001193125-23-244125-index.htm
- Material Agreements
  J M SMUCKER Co entered into Term Loan Credit Agreement with various lenders named therein and Bank of America, N.A., as administrative agent valued at $800 million (effective 2023-09-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: various lenders named therein and Bank of America, N.A., as administrative agent
  - Value: $800 million
  - Effective: 2023-09-27
  source text: On September 27, 2023, The J. M. Smucker Company (the “Company”) entered into that certain Term Loan Credit Agreement (the “Term Loan Agreement”) with the various lenders named therein and Bank of America, N.A., as administrative agent for the lenders (the “Term Loan Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/0001193125-23-244125-index.htm

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