{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-001850","form_type":"8-K","ticker":"SENEB","cik":"0000088948","company_name":"Seneca Foods Corp","filed_at":"2023-01-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.424924+00:00","generated_at":"2026-06-20T08:54:42.420230+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Seneca Foods enters $275M loan agreement, adds $175M secured term loan A-2","bullets":["Second Amended and Restated Loan Agreement with Farm Credit East dated Jan 20, 2023.","Term Loan A-1: $100M, remains $90M outstanding, fixed rate 3.3012%, matures June 1, 2025.","New Term Loan A-2: $175M, secured by property & equipment, variable SOFR+margin, matures Jan 20, 2028.","Quarterly principal payments: $1M on A-1 (continuing) and $1.5M on A-2 starting March 1, 2023.","Proceeds from A-2 used for working capital and to repay revolving credit facility."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-001850","json":"https://secwatch.observer/filing/0001437749-23-001850.json","markdown":"https://secwatch.observer/filing/0001437749-23-001850.md","text":"https://secwatch.observer/filing/0001437749-23-001850.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/senea20230125_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T08:54:42.420230+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5a262d0e0736754ab3370ddda2adb0ec8bc1a196","claim":"Seneca Foods Corp incurred term loan of $175 million with Farm Credit East, ACA at SOFR plus an additional margin determined by the Company’s leverage ratio maturing January 20, 2028.","evidence_excerpt":"The Loan Agreement adds an additional term loan in the amount of $175 million that will mature on January 20, 2028 and is secured by a portion of the Company’s property, plant and equipment. Term Loan A-2 bears interest at a variable interest rate based upon SOFR plus an additional margin determined by the Company’s leverage ratio.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$175 million"},{"label":"Counterparty","value":"Farm Credit East, ACA"},{"label":"Rate","value":"SOFR plus an additional margin determined by the Company’s leverage ratio"},{"label":"Maturity","value":"January 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"9fa15a23fb10d3235907a6a4cb2ef6d02366bc79","claim":"Seneca Foods Corp entered into Second Amended and Restated Loan and Guaranty Agreement with Farm Credit East, ACA (effective 2023-01-20).","evidence_excerpt":"On January 20, 2023, Seneca Foods Corporation, Seneca Foods, LLC, Seneca Snack Company, Green Valley Foods, as Borrowers, and certain subsidiaries of Borrowers as Guarantors (collectively, the \"Company\") entered into a Second Amended and Restated Loan and Guaranty Agreement (the \"Loan Agreement\") with Farm Credit East, ACA.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Farm Credit East, ACA"},{"label":"Effective","value":"2023-01-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}