CoBank

Sonoco adds USD 800m term loan facilities, refinances 2028 debt

Sonoco has signed a first amendment to its credit agreement with CoBank, adding USD 800m in term loan facilities. It drew USD 500m at closing, split between a USD 400m Tranche A due December 2029 and a USD 100m Tranche B due December 2031, to refinance an existing USD 500m term loan maturing in 2028. A further USD 300m of Tranche B remains available for up to three draws over the next 12 months.

Why this mattersThe refinancing extends Sonoco's debt maturity profile and adds committed, prepayable liquidity ahead of its 2028 term loan maturity.

• First Amendment to Credit Agreement signed 25 September 2026, adding USD 800m in term loan facilities
• USD 500m drawn at closing: USD 400m Tranche A due 31 December 2029 and USD 100m Tranche B due 31 December 2031
• Proceeds refinance an existing USD 500m term loan maturing in 2028
• Remaining USD 300m of Tranche B available for up to three draws within 12 months
• Lender group is CoBank, as administrative agent, and Farm Credit System lenders
• Both tranches are prepayable without penalty and carry interest margins tied to Sonoco's debt ratings

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