Campbell Soup Company
Campbell Soup Company Enters into New Credit Agreement
Summary
Campbell Soup Company has entered into a new Five-Year Credit Agreement with JPMorgan Chase Bank, N.A., providing a $1.85 billion unsecured, senior revolving credit facility. This agreement replaces the old Five-Year Credit Agreement dated September 27, 2021, which was terminated on April 16, 2024. The new agreement includes a financial covenant with a minimum consolidated interest coverage ratio of 3.25:1.00 and may be increased by an additional $500 million. Exhibits related to the agreement are furnished with this filing.
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Exhibits (1)
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About Campbell Soup Company
Campbell Soup Company is a leading American food and beverage multinational corporation, primarily known for its canned soups and related products. Established in 1869, Campbell has become a household name with its iconic red and white can, offering a range of soups from classic chicken noodle to innovative, health-focused varieties. Beyond soups, the company has expanded into snacks, beverages, and packaged foods with brands like Pepperidge Farm, V8, and Goldfish, diversifying its product portfolio and enhancing its market presence. Campbell Soup Company operates in the consumer staples sector, impacting industries such as food production and grocery distribution. The company's products are distributed globally, reaching consumers through supermarkets, food-service channels, and online platforms. In the financial market, Campbell Soup Company holds a notable position due to its strong brand recognition and resilient product demand, particularly during economic downturns when consumers gravitate toward essential goods. Its longstanding history, combined with continual product innovation and strategic acquisitions, underscores its role as a consistent player in the food and beverage industry.
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