CAMPBELL SOUP COMPANY (NYSE:CPB) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement
On December 29, 2017, Campbell Soup Company (the "Company") entered into a Three-Year Credit Agreement with Credit Suisse AG, Cayman Islands Branch ("Credit Suisse"), as administrative agent, and the other lenders named therein (the "Credit Agreement"). Subject to the terms and conditions set forth in the Credit Agreement (including the consummation of the acquisition by the Company of Snyder's-Lance, Inc.), the lenders have provided the Company with a single draw, unsecured, senior term loan credit facility in an aggregate principal amount equal to $1.20 billion, which shall have a maturity date of three years from the date of the initial fundingthereof. Loans under the Credit Agreement will bear interest at the rates specified in the Credit Agreement, which vary based on the type of loan and certain other conditions. The Credit Agreement contains customary covenants and events of default for credit facilities of this type.
The proceeds of the loans under the Credit Agreement can only be used in connection with the acquisition by the Company of Snyder's-Lance, Inc. and to pay fees and expenses in connectiontherewith and with respect to the Credit Agreement.
The Company and its subsidiaries have relationships with some of the lenders where they provide commercial banking, investment banking, underwriting, trust and other financial advisory services for which they have received (or will receive) customary fees and expenses.
The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to thecomplete text of the Credit Agreement, which is attached as Exhibit 10 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
CAMPBELL SOUP CO ExhibitEX-10 2 ex10.htm EXHIBIT 10 Exhibit 10 EXECUTION VERSION $1,…To view the full exhibit click here
About CAMPBELL SOUP COMPANY (NYSE:CPB)
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses. The segment includes the products, such as Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta, beans and dinner sauces; Plum food and snacks; V8 juices and beverages, and Campbell’s tomato juice. The Global Biscuits and Snacks segment includes Pepperidge Farm cookies, crackers, bakery and frozen products; Arnott’s biscuits, and Kelsen cookies. The Campbell Fresh segment includes Bolthouse Farms fresh carrots, carrot ingredients, refrigerated beverages and refrigerated salad dressings; Garden Fresh Gourmet salsa, hummus, dips and tortilla chips, and the United States refrigerated soup business.
