Hormel Secures Up to $1.425 Billion in Credit Facility Financing

Hormel Foods Corporation secured up to $1.425 billion in total credit facility financing in May 2021. The financing included entry into a $750 million revolving credit facility with an option to increase up to an additional $375 million and securing a $300 million term loan facility. Both financings were completed May 6, helping to fund Hormel’s June 2021 acquisition of the Planters® snacking portfolio from the Kraft Heinz Company while also placing the global food company in a strong position for future corporate financing needs. Faegre Drinker’s corporate finance attorneys represented Hormel in the financing.