McCormick secures $2B term loan, reduces bridge facility for $15.7B Unilever foods acquisition

Filed May 1, 2026 · Period ending April 28, 2026 · ~1 min read

Key Changes

• high

  McCormick entered a $2.0 billion term loan facility with Citibank to partially finance its pending acquisition of Unilever's foods business, with a three-year maturity from the merger closing date.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  The loan requires McCormick to maintain an EBITDA-to-interest-expense ratio of at least 3.75:1.00 each quarter after closing, restricting financial flexibility post-merger.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  McCormick reduced its bridge loan commitment from $15.7 billion to $13.7 billion by terminating $2.0 billion, replacing it with the term loan borrowings.

  Item 8.01 — Other Events verify on EDGAR →