secwatch.observer — SEC 8-K summary
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Issuer:     J M SMUCKER Co (SJM)
CIK:        0000091419
Form:       8-K
Filed at:   2023-09-28T23:59:59+00:00
Accession:  0001193125-23-244125
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/0001193125-23-244125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91419/000119312523244125/d532147d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-244125

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