SunOpta Announces New Credit Agreement
SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL) (TSX:SOY), a U.S.-based global pioneer fueling the future of sustainable, plant-based foods and beverages, today announced that on December 8, 2023, the Company entered into a new $180 million term loan credit facility (the “New Term Loan Credit Facility”) and a new $85 million revolving credit facility (the “New Revolving Credit Facility”) (collectively, the “New Credit Facilities”).
- SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL) (TSX:SOY), a U.S.-based global pioneer fueling the future of sustainable, plant-based foods and beverages, today announced that on December 8, 2023, the Company entered into a new $180 million term loan credit facility (the “New Term Loan Credit Facility”) and a new $85 million revolving credit facility (the “New Revolving Credit Facility”) (collectively, the “New Credit Facilities”).
- The proceeds of the New Term Loan Credit Facility and the proceeds of a drawing of the New Revolving Credit Facility were used to repay in full the amounts owing under the Company’s existing credit agreement and to repay and terminate certain capital lease obligations.
- The New Credit Facilities, which have a term of five years, replace the Company's existing credit agreement.
- The credit facilities were oversubscribed and we appreciate the continued support of the syndicate of five banks,” said Greg Gaba, Chief Financial Officer of SunOpta.