Coca-Cola Beverages Florida gets $350 million replacement revolver

By Marisa Wong

Los Angeles, April 18 – Coca-Cola Beverages Florida, LLC (Coke Florida) said it entered into an agreement for a new $350 million senior unsecured revolving credit facility.

With a five-year maturity and a $200 million accordion feature, the credit facility replaces Coke Florida’s previous $325 million agreement, according to a press release.

Borrowings will bear interest at SOFR plus 75 basis points to 125 bps, depending on Coke Florida’s leverage ratio.

The credit facility was arranged by Citibank, NA and PNC Capital Markets LLC as joint lead arrangers and joint bookrunners. Citibank will serve as administrative agent, PNC Bank, NA as syndication agent and Bank of America, NA as documentation agent.

The credit facility will provide the company with additional financial flexibility to invest in growth-oriented capital projects, according to the press release.

Coke Florida is a Tampa, Fla.-based privately held and independent Coca-Cola bottler.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.