secwatch.observer — SEC 8-K summary
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Issuer:     MCCORMICK & CO INC (MKC)
CIK:        0000063754
Form:       8-K
Filed at:   2026-05-01T23:59:59+00:00
Accession:  0001999371-26-009633
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

McCormick secures $2B term loan for Unilever foods acquisition; 3-year maturity, floating rate
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- Borrows up to $2.0B under term loan facility; Citibank, Goldman Sachs, Morgan Stanley as arrangers.
- Loan matures 3 years after closing of Merger; interest at Term SOFR + 0.75%-1.50% or Base Rate + 0.00%-0.50%.
- Financial maintenance covenant: Consolidated EBITDA/Interest Expense ratio ≥ 3.75:1.00.
- $2.0B of existing $15.7B bridge facility commitments terminated; replaced with term loan.
- Proceeds to finance portion of cash consideration and fees for acquisition of Unilever's foods business.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63754/000199937126009633/0001999371-26-009633-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63754/000199937126009633/apollo-8k_043026.htm
  HTML page:      https://secwatch.observer/filing/0001999371-26-009633

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