secwatch.observer — SEC 8-K summary
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Issuer:     Seneca Foods Corp (SENEB)
CIK:        0000088948
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001437749-23-016105
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 restructures term loan into $298.5M single facility with Farm Credit East
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- Amended Term Loan A-2 consolidates existing $173.5M with new $125.0M advance into $298.5M term loan.
- Quarterly principal payments of $3.75M begin June 1, 2023; maturity remains Jan 20, 2028.
- Proceeds used for working capital and repayment of revolving credit facility.
- Additional mortgages granted on two properties in Montgomery, MN as collateral.
- No change to pricing (SOFR plus leverage-based margin) or other financial covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88948/000143774923016105/0001437749-23-016105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88948/000143774923016105/senea20230526_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-016105

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