Universal Corp enters $1.4B new credit facility; replaces existing agreement

UNIVERSAL CORP /VA/

New unsecured Credit Agreement includes $275M term A-1 (5-yr), $345M term A-2 (7-yr), and $780M revolver (5-yr).
Proceeds for general corporate purposes, acquisitions, prepayment of existing debt, and working capital.
Existing Credit Agreement terminated on Dec 9, 2025; all outstanding debt repaid with new facility.
Financial covenants include max total net leverage ratio of 3.00x (3.25x post-Material Acquisition for 6 quarters) and minimum tangible net worth of $1.0B.
Interest rates based on Total Net Leverage Ratio; facility fees 0.25%-0.40% per annum.

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