secwatch.observer — SEC 8-K summary
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Issuer:     Seneca Foods Corp (SENEB)
CIK:        0000088948
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001437749-23-001850
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/0001437749-23-001850-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88948/000143774923001850/senea20230125_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-001850

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