secwatch.observer — SEC 8-K summary
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Issuer:     SMITHFIELD FOODS INC (SFD)
CIK:        0000091388
Form:       8-K
Filed at:   2025-02-12T23:59:59+00:00
Accession:  0001628280-25-005129
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smithfield enters new $2.1B revolving credit facility maturing 2030
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91388/000162828025005129/0001628280-25-005129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91388/000162828025005129/sfd-20250212.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-005129

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