Seaboard bumps up term loan to $975 million, extends to 2033

Chicago, Nov. 15 – Seaboard Corp. and Seaboard Foods LLC signed a second amended and restated term loan credit agreement on Nov. 10, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases commitments to $975 million, whereas previously they were at $700 million.

The maturity date has been extended to Nov. 10, 2033.

Quarterly amortization payments at an annual amount of 1% are due each year.

The pricing grid was mentioned but not included.

CoBank, ACB was the administrative agent, lead arranger and sole bookrunner. Farm Credit Services of America, PCA was a joint lead arranger.

Proceeds will be used to refinance all debt under the company’s existing term loan credit agreement, with the remainder of proceeds earmarked for working capital and general corporate purposes.

Seaboard is a Shawnee Mission, Kan.-based agribusiness and transportation company.

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