Tyson Foods Credit Agreement

Cravath represented JPMorgan Chase Bank, N.A. in connection with the agreement for a $1.75 billion senior unsecured revolving credit facility provided to Tyson Foods, Inc., a multinational protein-based food company. The revolving credit facility is used for working capital and other general business purposes. The transaction closed on March 14, 2018. Tyson Foods has renegotiated a line of credit with JPMorgan Chase Bank, which is offering up to $2.25 billion over the next five years to help the company cut costs. The filing also indicates that Tyson Foods used cash to repay all outstanding obligations under the Company`s existing loan agreement dated March 22, 2021. Tyson Foods has entered into a renegotiated agreement with JP Morgan Chase Bank, which will provide Tyson with loans of up to $2.25 billion through September 2026. Cravath represented Bank of America, N.A., as administrative agent under the $250 million revolving credit facility agreement provided to Baptist Health South Florida, Inc., a non-profit healthcare organization that operates medical facilities, surgical facilities and hospitals. The transaction closed on June 19, 2020. Details of the agreement have been set out in a securities filing, which is available on Tyson Foods` investor relations website. Print title: Revised Loan Agreement for Tyson Cravath represented Citibank, N.A., as managing agent under the $550 million credit facility agreement provided to the Blackstone/GSO Secured Lending Fund, an externally managed, undiversified closed-end investment firm. The transaction closed on June 15, 2020. The renegotiated deal comes at a time when Tyson Foods is settling antitrust lawsuits in which Tyson allegedly participated in a conspiracy with other animal protein companies to drive up the price of meat and poultry.

Tyson reportedly agreed to pay $42.5 million last week to resolve complaints from some of its competitors, while Pilgrim`s Pride and Mar-Jac Poultry also agreed to settlements of $44 million and $5.99 million, respectively. If a user or application submits more than 10 requests per second, other requests from the IP address may be limited for a short time. Once the request rate drops below the threshold for 10 minutes, the user can continue to access content on SEC.gov. This SEC practice is designed to limit excessive automated searches of SEC.gov and is not intended or should not affect individuals browsing the website SEC.gov. Unauthorized attempts to upload information and/or modify information on any part of this website are strictly prohibited and subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see 18 U.S.C. ยง 1001 and 1030). Spending has increased during the pandemic, with more than $700 million spent to prevent the spread of Covid-19, as well as for additional caregivers and vaccinations. Rising raw material costs and labor issues have also had an impact on profits. The cravath team consisted of Tatiana Lapushchik, Partner, and Stephanie M. Park, Partner.

. By using this website, you agree to security monitoring and auditing. For security reasons and to ensure that the public service continues to be accessible to users, this government computer system uses network traffic monitoring programs to identify unauthorized attempts to upload or modify information, or otherwise cause harm, including attempts to deny service to users. In January, Tyson informed shareholders of a $221.5 million transaction to settle all direct, indirect and end customer claims against the company. He also agreed to cooperate with the Ministry of Justice in exchange for leniency in the Agency`s investigation into the case. In addition, Tyson, Pilgrim`s Pride and other chicken farmers have settled price-fixing lawsuits filed by some of their customers five years ago. Note that this policy may change if the SEC manages to SEC.gov to ensure that the site operates efficiently and remains available to all users. . According to a report published on KATV`s website, tyson Foods will require the transaction to maintain its gross revenue relative to consolidated interest costs at 3.5 to 1 at the end of each fiscal quarter.

At the time, Tyson`s spokesman, Gary Mickelson, issued a statement saying the company did not admit responsibility for its settlements, but believed that resolving these cases was in the best interests of the company and its shareholders. . In these cases, Tyson Foods said it made the settlements not as an admission of guilt, but to better focus on its business without being distracted by a lawsuit. Cravath represented the underwriters, led by Credit Suisse, in connection with the withdrawal of $2 billion of senior medium-term notes by Credit Suisse AG and the ATMs, led by Credit Suisse, in the simultaneous amount of $1.5 billion 144A/Reg. S Offer of senior fixed/floating rate notes due by Credit Suisse Group AG, a global financial services company. 144A/Reg. The senior notes due at a fixed/variable rate have been listed on the SIX Swiss Exchange. The transactions were completed on June 5, 2020.

Please report your traffic by updating your user agent to include company-specific information. In addition, Tyson Foods agreed in July to pay $1.75 million to settle conspiracy claims with other turkey producers to raise prices. An antitrust lawsuit filed in Federal Court in Chicago has accused some of the largest chicken companies of using manipulation tactics between 2008 and 2016 to artificially increase the cost of chicken. Cravath represented borrower Florida East Coast Industries, LLC (“FECI”) under its $485 million loan facility arranged by Morgan Stanley Senior Funding, Inc. Cravath also represented FECI under its $50 million loan facility arranged by CanAm Capital Partners, LLC. FECI is a leading company in commercial real estate, transportation and infrastructure. The transactions closed on August 17, 2020 and August 19, 2020, respectively. For more information, see the SEC`s Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission. . Last week, Tyson agreed to pay $42.5 million to some indirect buyers.

The company did not immediately return a message requesting more details. Springdale-based Tyson Foods recently took on an increase in costs due to Covid-19 and legal obligations. Tyson Foods has also been charged in lawsuits of conspiracy with other pork producers. Headquartered in Springdale, Arkansas, Tyson Foods is the largest broiler producer and the fifth largest turkey producer in the United States. It is also a major producer of pork and beef products. .