Keurig Dr Pepper to upsize revolving credit facility

By Rebecca Melvin

New York, April 7 – Keurig Dr Pepper Inc. announced it is refinancing and upsizing its existing revolving credit facility as well as offering new senior notes subject to market conditions, according to a news release.

The measures are being taken as a means of extending the company’s debt maturities and enhancing its liquidity profile, the company said, with proceeds of the notes being used to repay short-term commercial paper notes and current borrowings under the existing revolver. The strategic refinancing is not expected to change the company’s total debt balance or its deleveraging commitments.

The beverage conglomerate is based in Burlington, Mass.

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