Keurig gets $5.1 billion credit facilities in connection with merger

By Sarah Lizee

Olympia, Wash., May 14 – Keurig Green Mountain, Inc. obtained $5.1 billion of credit facilities in connection with the previously announced combination of parent Maple Parent Holdings Corp. and Dr. Pepper Snapple Group, Inc., according to an informed source.

JPMorgan, BofA Merrill Lynch and Goldman Sachs are the lead banks on the financing transaction, which was completed in February, the source said.

Borrowings under the new credit facilities, together with proceeds from a new offering of $8 billion senior notes and cash on hand, will be used to finance a special cash dividend payable to Dr. Pepper Snapple shareholders, to refinance Dr. Pepper Snapple’s existing revolving credit facility and Maple’s existing credit facility and to pay related fees and expenses.

Keurig is a Waterbury, Vt.-based personal beverage system company. Dr. Pepper Snapple is a maker of non-alcoholic beverages and is based in Plano, Texas.

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