Financing ·
Westrock Coffee upsizes $600M credit facility and repurchases $40M convertible notes
WESTWestrock Coffee Co
Westrock Coffee Company entered into a new $600 million senior secured first lien credit agreement, consisting of a $300 million term loan and a $300 million revolving credit facility maturing in October 2031. The proceeds were used to repay the prior $425 million credit agreement. Concurrently, the company repurchased and cancelled $40 million in aggregate principal amount of its 5.00% convertible senior notes due 2029 for approximately $21 million in cash and 2,391,030 shares of common stock. The remaining $32 million of these notes were amended and restated as the 6.00% 2032 Convertible Notes maturing January 31, 2032, with an initial conversion price reduced to $9.50 per share. Westrock Coffee is an integrated beverage solutions platform serving major brands across packaged coffee, tea, and ready-to-drink categories.