The latest announcement is out from Sonoco Products ( (SON) ).
On September 17, 2024, a company finalized an underwriting agreement with major financial institutions to sell $1.8 billion in senior unsecured notes with interest rates ranging from 4.450% to 5.000%, maturing between 2026 and 2034. The offering, part of a registered public offering, was completed two days later. These notes rank equally with other unsubordinated debt of the company and are subject to covenants that limit certain financial transactions, though they allow for exceptions. The company retains the right to redeem these notes at any time, and specific conditions could trigger the need for a special mandatory redemption.
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