Sonoco amends credit agreement, adds $800 million term loan facilities
SON•Sonoco amended its Farm Credit System credit agreement on Sept. 25, 2026, adding two term loan facilities totaling $800 million. It borrowed $500 million at closing to refinance a syndicated term loan due in August 2028.
1. Loan terms
The amended agreement includes a $400 million Tranche A term loan maturing Dec. 31, 2029, and a $400 million delayed-draw Tranche B maturing Dec. 31, 2031. The Tranche B facility leaves $300 million available for up to 12 months to refinance other outstanding debt; interest rates float off SOFR or a base rate with ratings-based margins, and undrawn Tranche B commitments carry a ticking fee.
