Campbell Soup (CPB) has shared an update.
Campbell Soup Company secured a new $1.85 billion unsecured senior revolving credit facility on April 16, 2024, with the option to increase it by $500 million under certain conditions. Managed by JPMorgan Chase Bank and other lenders, the credit line, maturing in 2029, will support working capital and general corporate purposes. It features customary covenants, such as maintaining a minimum interest coverage ratio. Concurrently, the company terminated its previous credit agreement from 2021, signaling a strategic financial move.
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