Sanderson Farms increases revolver to $750 million, extends to 2020

By Tali Rackner

Norfolk, Va., April 24 – Sanderson Farms, Inc. increased its existing revolving credit facility to $750 million from $600 million and extended the termination to April 24, 2020, according to a press release.

The credit remains unsecured and certain covenants related to the company’s financial condition and capital expenditure needs have been amended in anticipation of its future growth plans.

As of April 24, Sanderson Farms had no outstanding borrowings under the then-existing revolving credit facility, but did have about $13.8 million outstanding letters of credit under the facility.

Sanderson Farms is a Laurel, Miss., poultry processing company.

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