Keurig Dr Pepper enters into $750 million 364-day credit facility

By Wendy Van Sickle

Columbus, Ohio, May 30 – Keurig Dr Pepper Inc. entered into a new $750 million 364-day credit agreement on Wednesday with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus a margin ranging from 100 basis points to 165 bps, depending on company debt ratings, and may be used for general corporate purposes.

The credit agreement will mature on May 27, 2020 and has a one-year extension option.

JPMorgan, BofA Securities, Inc. and Goldman Sachs Bank USA are joint lead arrangers and joint bookrunners with Bank of America, NA and Goldman Sachs as syndication agents.

The beverage conglomerate is based in Burlington, Mass.

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