Universal Corporation Secures $1.4 Billion Credit Facility Refinancing
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Universal Corporation has secured a new $1.4 billion senior unsecured credit facility, replacing its previous $1.15 billion facility. The new agreement includes a five-year $780 million revolving credit facility, a $275 million five-year term loan, and a $345 million seven-year term loan. This refinancing is expected to enhance liquidity, financial flexibility, and reduce borrowing costs. JPMorgan Chase Bank, Truist Securities, and AgFirst Farm Credit Bank acted as joint bookrunners and lead arrangers.
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