SMITHFIELD FOODS INC (SFD): debt financing — Smithfield enters new $2.1B revolving credit facility maturing 2030

SMITHFIELD FOODS INC

New $2.1B senior unsecured revolving credit facility refinances prior credit agreement; matures Feb 12, 2030 with two one-year extension options.
Pricing grid based on S&P/Moody's/Fitch ratings; spreads range from 0.875% (SOFR) at A-/A3 to 1.500% at BB+/Ba1.
Includes $250M foreign currency subfacility and $200M letter of credit subfacility.
Financial covenants: max debt to capitalization 50% (55% after material acquisitions), min interest coverage ratio 3.50x.
Subsidiary guarantees on existing senior unsecured notes automatically released upon termination of prior facility.

item 1.01 item 1.02 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SMITHFIELD FOODS INC incurred revolving credit of $2.1 billion with Bank of America, N.A., as administrative agent at Term SOFR (or, (i) in the case of an approved foreign currency, the “Adjusted Eu maturing February 12, 2030.

Instrument: revolving credit
Principal: $2.1 billion
Counterparty: Bank of America, N.A., as administrative agent
Rate: Term SOFR (or, (i) in the case of an approved foreign currency, the “Adjusted Eu
Maturity: February 12, 2030
Event: incurrence

Exact text from the filing

The Revolving Credit Agreement, among other things, provides for aggregate revolving commitments, on a senior unsecured basis, of $2.1 billion (the “Revolving Credit Facility”) and matures on February 12, 2030

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Source: SEC EDGAR

accession 0001628280-25-005129

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