Company: CAG
Filing Date: 2025-04-30
Form Type: 8-K
Source: 0000023217-25-000019
Chunk: 1

Company: CONAGRA BRANDS INC.
Filing Date: 2025-04-30
Form: 8-K
Item: Item 1.01
Chunk 1
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% per annum plus the Base Rate, described in the Mizuho Term Loan Agreement as the highest of (i) the prime rate in the U. S. published in The Wall Street Journal, (ii) the Federal Funds Rate plus 0.50%, and (iii) one-month Term SOFR plus 1.00%.

TheMizuho Term Loan Agreement contains customary affirmative and negative covenants for unsecured investment grade credit facilities of this type and financial covenants requiring compliance with a maximum net leverage ratio and a minimum interest coverage ratio. The Company may voluntarily prepay term loans under the MizuhoTerm Loan Agreement, in whole or in part, without premium or penalty, subject to certain conditions.

The MizuhoTerm Loan Agreement contains events of default customary for unsecured investment grade credit facilities with corresponding grace periods. If an event of default occurs and is continuing, the lenders may accelerate amounts due under the MizuhoTerm Loan Agreement and exercise other rights and remedies. In the case of certain events of default related to insolvency and receivership, the commitments of the lenders will be automatically terminated and all outstanding obligations of the Company will become immediately due and payable.

A copy of the MizuhoTerm Loan Agreement is filed as Exhibit 10.2 hereto. The foregoing description of the MizuhoTerm Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the MizuhoTerm Loan Agreement, which is incorporated by reference herein.

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

The description contained under Item 1.01 above is hereby incorporated by reference in its entirety into this Item 2.03.

Item 9.01Financial Statements and Exhibits.

  Exhibit No.      Description                                                                                                                                                                                          
         10.1      Letter Amendment to Term Loan Agreement, dated April 29, 2025, by and among Conagra Brands, Inc., Bank of America, N. A., as administrative agent and a lender, and the other lenders party thereto  
         10.2      Term Loan Agreement, dated April 29, 2025, by and among Conagra Brands, Inc., Mizuho, Ltd., as administrative agent and a lender, and the other lenders party thereto                                
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