Refresco successfully completes EUR 400 million Term Loan B
29 July 2024 - 4:30PM
Press Release Refresco successfully completes EUR 400
million Term Loan B Rotterdam, The Netherlands, July 29,
2024 – Refresco, the global independent beverage solutions
provider for retailers and global, national, and emerging (GNE)
brands in Europe, North America, and Australia, today announces it
has successfully completed a EUR 400 million Term Loan B. This
transaction adds a new stand-alone EUR 400 million Term Loan B with
an interest rate of EURIBOR plus 3.50%. Proceeds from the TLB will
be used to repay its borrowings under its Revolving Credit
Facility, repay EUR 100 million of its existing EUR Term Loan B
(E+3.75%), and increase cash on balance sheet. CFO
Refresco, Bill McFarland, commented: "We are pleased with
the strong market demand for our Term Loan B, and with the enhanced
liquidity and financial flexibility this transaction provides.
Refresco continues to deliver on our Buy & Build strategy -
including our most recent announcement on our agreement to acquire
Frias - while strengthening our balance sheet and improving our
credit metrics. We appreciate the recognition and support of the
markets." No other material changes were made to the terms and
conditions of the TLB. The maturity date of the TLB remains July
2029, as per the existing facilities. As part of the transaction,
the Company has also increased its Revolving Credit Facility by EUR
125 million to EUR 625 million. About Refresco
Refresco is the global independent beverage solutions provider for
retailers and global, national and emerging brands with production
in Europe, North America and Australia. Refresco offers an
extensive range of product and packaging combinations from juices
to carbonated soft drinks and mineral waters in carton, PET,
Aseptic PET, cans and glass. Refresco continuously searches for new
and alternative ways to improve the quality of its products and
packaging combinations in line with consumer and customer demand,
environmental responsibilities and market demand. Refresco is
headquartered in Rotterdam, the Netherlands and has more than
14,500 employees. www.refresco.com Media Contacts
Refresco Corporate Communications Hendrik de Wit +31 6 1586 1311
hendrik.dewit@refresco.com
- Press release - Refresco successfully completes Term-Loan B
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