Tyson Foods, Inc. (NYSE:TSN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

On August 18, 2017, Tyson Foods, Inc. (the “Company”) and Bank of America, N.A. entered into a second amendment of an April 7, 2015 term loan agreement (the “Term Loan Agreement”) under which the Company borrowed a principal amount of $500 million. Among other things, this amendment extends the maturity date of the borrowing from April 7, 2019 to August 18, 2020. Additionally, interest on borrowings under the Term Loan Agreement, as amended by the second amendment, will accrue, at the Company’s option, at an annual rate equal to (a) the Eurocurrency rate plus the applicable spread or (b) the alternate base rate plus the applicable spread, each as described below. The applicable spread will be the percentage described in the following chart that corresponds to the Company’s corporate credit rating (or Term Loan Agreement rating, if available) from S&P, Moody’s or Fitch, as applicable.

The foregoing description of the second amendment to the Term Loan Agreement is summary in nature and is qualified in its entirety by reference to this amendment, a copy of which is attached hereto as Exhibit 10.1, and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 of this Form 8-K is hereby incorporated into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

TYSON FOODS INC Exhibit
EX-10.1 2 termloanamendmentno2.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Execution VersionAMENDMENT NO. 2 TO TERM LOAN AGREEMENTThis AMENDMENT NO. 2 TO TERM LOAN AGREEMENT (this “Amendment”),…
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About Tyson Foods, Inc. (NYSE:TSN)

Tyson Foods, Inc. is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods. It operates a vertically integrated chicken production process, which consists of breeding stock, contract growers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Through its subsidiary, Cobb-Vantress, Inc. (Cobb), the Company is engaged in supplying poultry breeding stock across the world. It produces a range of fresh, frozen and refrigerated food products. Its products are marketed and sold by its sales staff to grocery retailers, grocery wholesalers, meat distributors, warehouse club stores and military commissaries, among others.