UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 18, 2010
SONOCO PRODUCTS COMPANY
Commission File No. 0-516
| Incorporated under the laws | I.R.S. Employer Identification | |
| of South Carolina | No. 57-0248420 |
1 N. Second St.
Hartsville, South Carolina 29550
Telephone: 843/383-7000
Hartsville, South Carolina 29550
Telephone: 843/383-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 1 — Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
Item 1.01 Entry into a Material Definitive Agreement.
| On October 18, 2010, the registrant entered into a Second Amended and Restated Credit Agreement for a syndicated bank line of credit supporting its commercial paper program. The new $350 million agreement, which replaces the existing agreement entered into May 3, 2006, has a new five-year maturity and reflects substantially the same terms and conditions as the existing agreement. The term of the line of credit allows commercial paper borrowings up to the maximum amount of the lines of credit to be classified as long-term debt. The new agreement also provides the registrant the option to increase its credit line up to $500 million subject to the concurrence of its lenders. | ||
| The lenders under the amended and restated agreement are: Bank of America, N.A.; Wells Fargo Bank, National Association; Bank of Tokyo-Mitsubishi UFJ Trust Company; Deutsche Bank AG, New York Branch; JPMorgan Chase Bank, N.A.; U.S. Bank, National Association; The Bank of New York Mellon; and TD Bank, N.A. Bank of America is also the administrative agent and Wells Fargo Bank is also the syndication agent. Bank of America Securities, LLC and Wells Fargo Securities, LLC are joint lead arrangers and joint book managers. |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SONOCO PRODUCTS COMPANY | ||||
Date: October 21, 2010
|
By: | /s/ C.J. Hupfer | ||
| C.J. Hupfer Senior Vice President and Chief Financial Officer |
||||
3