Seneca Foods amends loan deal, raising seasonal borrowing capacity to $350 million
Seneca Foods and its subsidiaries signed a Third Amendment to their Fourth Amended and Restated Loan and Security Agreement with Bank of America as agent. The amendment raises aggregate borrowing commitments for April 1 through July 31 of each year from $300 million to $350 million, while the $400 million maximum commitment for August 1 through March 31 is unchanged.
- Seasonal borrowing commitments rise from $300 million to $350 million for April 1 through July 31 each year.
- The maximum borrowing commitment of $400 million for August 1 through March 31 is unchanged.
- Agreement signed March 8, 2024; Bank of America, N.A. serves as agent and issuing bank.
- A copy of the amendment will be filed as an exhibit to the fiscal 2024 Form 10-K.