By Timothy S. Donahue
Top Takeaways:
- Universal finalizes $1.4B refinancing to boost liquidity and extend maturities.
- The new facility includes a $780M revolver and two funded term loans.
- JPMorgan, Truist, and AgFirst acted as joint bookrunners and lead arrangers.
Universal Corporation (NYSE: UVV) announced that it has entered into a new bank credit agreement establishing a $1.4 billion senior unsecured credit facility, effective December 9, 2025. The new arrangement replaces the company’s previous $1.15 billion facility.
The 2025 Facility includes a five-year, $780 million committed revolving credit line, a $275 million five-year funded term loan, and a $345 million seven-year funded term loan. The company states that this new structure boosts overall liquidity, prolongs maturities, and improves Universal’s financial flexibility.
“This refinancing strengthens our Company by increasing liquidity and financial flexibility, lowering borrowing costs, and expanding our banking relationships,” said Preston Wigner, Chairman, President and CEO of Universal. “We appreciate the strong support from our new and existing banking partners. Our new credit facility positions us to advance our strategic priorities and deliver long-term value for our shareholders.”
JPMorgan Chase Bank, N.A., Truist Securities, Inc., and AgFirst Farm Credit Bank served as joint bookrunners and joint lead arrangers for the transaction.
Additional details about the 2025 Facility can be found in Universal’s Form 8-K filed with the U.S. Securities and Exchange Commission on December 9, 2025.
