Universal Corp. signs $1.4 billion unsecured credit agreement, replacing existing facility
Universal Corporation entered into a new unsecured Credit Agreement on December 9, 2025, providing a $780 million revolving facility and term loans totaling $620 million, and used it to repay all outstanding debt under its existing credit agreement, which was terminated the same day. The filing gives no new borrowing terms beyond the facility sizes, pricing ranges, and covenants, and it does not say the new facility increases total debt.
Key points
- New facilities: $275 million Term A-1 loan (five-year), $345 million Term A-2 loan (seven-year), and $780 million revolver (five-year)
- Company may add up to $300 million of revolver increase or incremental term loans, subject to lender commitments
- Covenants include a maximum total net leverage ratio of 3.00 to 1.00 and minimum consolidated tangible net worth of $1 billion
- Existing Credit Agreement, dated December 15, 2022, was terminated December 9, 2025, with proceeds used to repay its outstanding debt
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 09, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.