Keurig Dr Pepper plans new 364-day revolving credit facility

Chicago, March 1 – Keurig Dr Pepper Inc. is strategically refinancing its debt which includes plans for a new 364-day revolving credit facility, according to a press release.

The company is also in the market with a three-part offering of senior notes and 4.3 million shares of its common stock.

Proceeds from the notes will be used the fund the redemption of the company’s 3.2% 2021-A notes due Nov. 15, 2021, the 2021-B 2.53% notes due Nov. 15, 2021, the 2.7% notes due Nov. 15, 2022 and the 4.057% 2023 merger notes due May 25, 2023. Additionally, the offering will help to permanently repay the company’s $425 million term loan facility due in February 2023. Remaining proceeds will be used to fund the costs of the offering and other general corporate purposes.

The beverage conglomerate is based in Burlington, Mass.

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