Smucker enters $650M term loan and $2.0B revolver to refinance maturing debt

J M SMUCKER Co

Term loan of $650M unsecured, matures March 7, 2027, to partially repay $1.0B 3.50% Senior Notes due March 15, 2025.
$2.0B unsecured revolving credit facility matures March 7, 2030; used to refinance existing debt and for general corporate purposes.
Interest on term loan at base rate or Term SOFR plus applicable margin; interest coverage covenant of 3.50:1 required quarterly.
Remainder of senior note repayment funded from cash on hand and commercial paper borrowings.

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