Weil is advising Campbell Soup Company in connection with its delayed term loan credit agreement with various lenders and Bank of America, as administrative agent for the lenders. The lenders have provided Campbell with an unsecured delayed draw term loan facility in an aggregate principal amount of up to $2 billion with a maturity date of October 8, 2024. The proceeds of the loans under the credit agreement will be used in connection with the acquisition by Campbell of Sovos Brands, Inc., which was previously described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 7, 2023.

The Weil team was led by Banking & Finance partner Justin D. Lee and included associate Kate Waterman.