KRAFT HEINZ CO: entering into a material definitive agreement, termination of a material definitive agreement, creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant, other events, statements financials and exhibits (Form 8-K)
Item 1.01. Conclusion of a significant definitive agreement.
(the “Company”) entered into a new credit agreement (the “credit agreement”) with
The credit agreement replaces the existing agreement of KHFC and the company
revolving credit facility that was due to mature on
The New Revolving Credit Facility is available to KHFC and any wholly owned subsidiary of KHFC designated by KHFC (each, a “Subsidiary Borrower” and, together with KHFC, the “Borrowers”) and will mature on
Obligations under the new revolving credit facility are guaranteed by KHFC and the Company against indebtedness and other liabilities of any subsidiary borrower.
Interest rates on the obligations under the new revolving credit facility are based on prevailing annual interest rates for SOFR/EURIBOR/CDOR term loans or other Canadian base rate/prime rate, in each case subject to an applicable margin based on the senior long term rate. unsecured and unenhanced credit rating assigned to KHFC.
KHFC will pay certain recurring fees in connection with the New Revolving Credit Facility, including (1) fees on unused lender commitments under the New Revolving Credit Facility, and (2) participation fees and fronting fees. on the total nominal amounts of outstanding letters of credit.
The Credit Agreement also contains customary representations, covenants and events of default.
The financial institutions parties to the Credit Agreement have provided and may continue to provide commercial banking and financial services for KHFC and/or the Company for which they have received and will continue to receive customary fees.
The above description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, which is filed herein as Schedule 10.1.
Item 1.02. Termination of a Material Definitive Agreement.
The existing credit agreement provided for a revolving credit facility of up to
at maturity on
The financial institutions party to the Existing Credit Agreement have provided and may continue to provide commercial banking and financial services for KHFC and/or the Company for which they have received and will continue to receive customary fees.
Item 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
The information set forth above in Section 1.01 is incorporated by reference in this Section 2.03.
Item 8.01. Other Events.
As previously described in the company’s quarterly report on Form 10-Q for the period ended
area. Beginning in the second quarter of its 2022 fiscal year, the Company manages and reports its results of operations through two reportable segments defined by geographic region:
Prior to the reorganization of the Company’s reportable segments in the second quarter of fiscal 2022, the Company managed and reported its results of operations through three reportable segments defined by geographic region:
Item 9.01. Financial statements and supporting documents.
(d) The following exhibits are filed with this current report on Form 8-K.
Exhibit No. Description 10.1 Credit Agreement, dated
July 8, 2022, among The Kraft Heinz Company, Kraft Heinz Foods Company, the initial lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. 99.1 Supplemental Historical Financial Information by New Reportable Segments for the years ended December 25, 2021, December 26, 2020, and December 28, 2019, and for each of the quarters ended March 27, 2021, June 26, 2021, September 25, 2021, December 25, 2021, and March 26, 2022. 104 The cover page of The Kraft Heinz Company'sCurrent Report on Form 8-K dated July 8, 2022, formatted in inline XBRL. 3
© Edgar Online, source