By Katherine Hamilton
Tyson Foods entered into a $2.5 billion revolving credit agreement to refinance and replace a previously existing pact.
The new agreement matures on April 15, 2030, and is subject to two, one-year extension options, according to a filing with the Securities and Exchange Commission on Friday. It also gives the company the option to establish incremental commitments of up to $500 million in the aggregate if certain conditions are met.
Tyson is required to maintain a minimum interest expense coverage ratio of at least 3.50 to 1.0 at the end of each fiscal quarter.
The previous pact that was entered into in September 2021, and provided for aggregate commitments of up to $2.25 billion.
The meat producer is continuing to work with J.P. Morgan Chase as its bank for the agreement.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 18, 2025 17:11 ET (21:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.