---
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"
generated_at: "2026-06-20T08:54:42.420230+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Seneca Foods enters $275M loan agreement, adds $175M secured term loan A-2

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-001850
- JSON: https://secwatch.observer/filing/0001437749-23-001850.json
- Plain text: https://secwatch.observer/filing/0001437749-23-001850.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $175 million
  - Counterparty: Farm Credit East, ACA
  - Rate: SOFR plus an additional margin determined by the Company’s leverage ratio
  - Maturity: January 20, 2028
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm
- Material Agreements
  Seneca Foods Corp entered into Second Amended and Restated Loan and Guaranty Agreement with Farm Credit East, ACA (effective 2023-01-20).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Farm Credit East, ACA
  - Effective: 2023-01-20
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm

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