SONOCO PRODUCTS CO — Capital/Financing Update 2010

Oct 21, 2010

8-K 1 g24919be8vk.htm FORM 8-K e8vk PAGEBREAK

UNITED STATES 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

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

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))

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Section 1 — Registrant’s Business and Operations 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. |

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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 — By:
C.J. Hupfer Senior Vice President and Chief Financial Officer

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