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
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