Financing ·
Smithfield Foods signs $600M delayed draw term loan to redeem 2027 notes
SFDSmithfield Foods Inc
Smithfield Foods, Inc. entered into a Senior Unsecured Delayed Draw Term Loan Credit Agreement providing for aggregate commitments of $600 million. The facility is available until December 23, 2026, and matures three years after funding. Proceeds are expected to be used to redeem all outstanding 4.250% Senior Notes due 2027 at 100% of principal plus accrued interest on or after November 1, 2026. The agreement includes customary covenants limiting indebtedness and requiring a maximum debt-to-capitalization ratio of 50%. Smithfield Foods is a leading producer and processor of pork products in the United States.