| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Keurig Dr Pepper Inc. > News item |
Keurig Dr Pepper assumes obligations of $5.1 billion loans
By Wendy Van Sickle
Columbus, Ohio, July 9 – Keurig Dr Pepper Inc. entered on Monday into a borrower joinder to the $2.7 billion term loan agreement and the $2.4 billion revolving credit facility entered into on Feb. 28 by Keurig Green Mountain, Inc. with JPMorgan Case Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
Under the joinder agreement, Keurig Dr Pepper assumed all obligations of Keurig Green Mountain (Maple).
Proceeds funded the previously announced combination of parent Maple Parent Holdings Corp. and Dr. Pepper Snapple Group, Inc. and may be used for general corporate purposes.
The interest rate for any borrowings under the credit agreements ranges from Libor plus a margin of 87.5 basis points to 150 bps, depending on the rating of certain company index debt.
The revolver has an unused commitment fee of 7 bps to 20 bps
The term loans must be repaid quarterly in an amount equal to 1.25% of the total principal amount, starting on Sept. 30.
The credit agreements both mature on Feb. 28, 2023.
JPMorgan Chase, Bank of America Merrill Lynch and Goldman Sachs Bank USA acted as joint lead arrangers and bookrunners.
Bank of America, NA and Goldman Sachs acted as syndication agents; and BNP Paribas, Citibank, NA, Rabobank, Credit Agricole CIB, Intesa Sanpaolo S.P.A. New York Branch, Mizuho Bank, Ltd., Morgan Stanley MUFG Loan Partners, LLC, Royal Bank of Canada and Wells Fargo Bank, NA acted documentation agents.
Keurig is a Waterbury, Vt.-based personal beverage system company. Dr. Pepper Snapple is a maker of non-alcoholic beverages and is based in Plano, Texas.
© 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.