Farmer Bros. completes $85 million revolver led by Wells Fargo

By Sara Rosenberg

New York, Sept. 12 - Farmer Bros. Co. closed on a new $85 million three-year revolving credit facility, according to a news release.

Wells Fargo Capital Finance is the lead bank on the deal.

Proceeds were used to replace an existing $50 million facility that was due to expire in March 2012 and are also available for general corporate purposes.

The company said in the release that the new revolver effectively lowers its cost of borrowing by about 50 basis points compared to the previous agreement.

Farmer Bros. is a Torrance, Calif.-based direct distributor of coffee, tea and culinary products.

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