Green Mountain would draw on existing facilities for proposed Diedrich purchase

By Sara Rosenberg

New York, Nov. 24 - Green Mountain Coffee Roasters Inc. plans to use borrowings under its existing credit facility, along with cash on hand, to fund its revised offer for Diedrich Coffee Inc., according to a news release.

Green Mountain is now offering to purchase Diedrich for $32 per share in cash, in a transaction with a total value of roughly $265 million.

The new offer comes on the heels of Peet's Coffee & Tea Inc.'s latest bid of $32 per share for Diedrich in cash and stock.

To fund its offer, Peet's has received a commitment for $140 million of debt financing from Wells Fargo Bank and Wells Fargo Securities LLC.

Green Mountain is a Waterbury, Vt.-based specialty coffee company. Diedrich is an Irvine, Calif.-based coffee company. Peet's is an Emeryville, Calif.-based specialty coffee and tea company.

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