---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-253873"
form_type: "8-K"
ticker: "CPB"
cik: "0000016732"
company_name: "CAMPBELL'S Co"
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:41:25.978289+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Campbell Soup enters $2B delayed draw term loan for Sovos Brands acquisition

## Summary
- Unsecured delayed draw term loan facility of up to $2B, maturing October 8, 2024.
- Interest rates vary by loan type; includes minimum interest coverage ratio of 3.25:1.00.
- Ticking fee of 0.10% on unused commitments; funding fee of 0.20% on outstanding loans after 90 days.
- Proceeds restricted to funding the previously announced Sovos Brands acquisition and related fees.
- Bank of America serves as administrative agent; lenders include some existing relationship banks.

## SEC filing metadata
- accession: 0001193125-23-253873
- form_type: 8-K
- ticker: CPB
- cik: 0000016732
- company_name: CAMPBELL'S Co
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/16732/000119312523253873/0001193125-23-253873-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/16732/000119312523253873/d410910d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-253873
- JSON: https://secwatch.observer/filing/0001193125-23-253873.json
- Plain text: https://secwatch.observer/filing/0001193125-23-253873.txt

## Key facts
- Material Agreements
  CAMPBELL'S Co entered into Delayed Draw Term Loan Credit Agreement with the various lenders named therein and Bank of America, N.A., as administrative agent valued at $2 billion (effective 2023-10-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: the various lenders named therein and Bank of America, N.A., as administrative agent
  - Value: $2 billion
  - Effective: 2023-10-10
  source text: On October 10, 2023, Campbell Soup Company (the “Company”) entered into a Delayed Draw Term Loan Credit Agreement (the “Credit Agreement”) with the various lenders named therein and Bank of America, N.A., as administrative agent for the lenders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/16732/000119312523253873/0001193125-23-253873-index.htm

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