Add as a preferred source on GoogleWestrock Coffee Replaces $425 Million Facilities With $600 Million Deal
The Beverage Solutions package includes a $300 million term loan and a $300 million revolver, with scheduled term-loan amortization set at 2.5% in Year 1 and 5% in Years 2–4.
Westrock Coffee Company (Nasdaq: WEST) closed $600 million in new credit facilities for its Beverage Solutions segment on Oct. 21, replacing a $425 million package and lowering scheduled term-loan amortization. The company estimated the change would reduce required principal payments by about $15 million over the next four quarters.
The senior secured first-lien facilities consist of a $300 million term loan and a $300 million revolving facility. Both mature Oct. 21, 2031, subject to a springing maturity in certain circumstances. Scheduled term-loan amortization falls from 10% under the previous facility to 2.5% in Year 1 and 5% in Years 2–4.
Westrock had about $270 million in liquidity at closing, including $40 million in unrestricted cash and $230 million in undrawn revolver commitments. Lender commitments totaled $737 million, allowing the package to grow from $500 million at launch. Rabobank funded the transaction, with syndication to a broader lender group continuing.
The agreement sets a maximum secured net leverage ratio of 4.50-to-1.00 through the quarter ending June 30, 2027. That limit steps down to 4.25-to-1.00 through June 30, 2028, then to 4.00-to-1.00. The facilities also require a fixed-charge coverage ratio of at least 1.20-to-1.00.
The new agreement repaid Westrock’s outstanding obligations and terminated commitments under its previous credit agreement on Oct. 21. An amendment on June 30 had extended the maturity of about $361 million in loans and commitments to Nov. 29, 2028, while about $26 million remained due Aug. 29, 2027.
Westrock also repurchased $40 million of its 2029 convertible notes for about $21 million in cash and 2,391,030 shares. It amended the remaining $32 million into notes carrying 6% annual interest and due Jan. 31, 2032. The notes’ initial conversion price decreased to $9.50 per share from $12.84.
“This refinancing is a vote of confidence in Westrock Coffee’s platform and our long-term strategy,” co-founder and CEO Scott T. Ford said.
Westrock plans to report third-quarter 2026 results Nov. 5 after market close. A conference call is scheduled for 4:30 p.m. ET (9:30 p.m. UTC).
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.