Keurig Dr Pepper Inc. has entered into a new unsecured credit facility for a group of banks that will provide up to $1.5 billion in loans to the beverage maker, according to an April 15 SEC submission. The 364-day revolving credit agreement expires on April 13, 2021 and can be used by the company for general business and working capital purposes. It replaces Keurig Dr Pepper`s $750 million credit contract with 364 days. Keurig Green Mountain, Inc. Investors Media Maria Sceppaguercio, 781-418-8136 email@example.com or Katie Gilroy, 781-418-3345 firstname.lastname@example.org When the company announced that it had launched a public offering of Senior Notes under customary market conditions and other conditions, as well as the refinancing and processing of the company`s existing revolving credit facility. The Company intends to use the net proceeds from the sale of the bonds to repay short-term and outstanding bonds under its existing revolving credit facilities. Strategic refinancing should not alter the company`s more supportive debt or its debt reduction commitments. Maple intends to use the net proceeds of the offer with loans as part of new credit and cash facilities available, (i) to fund a special cash dividend to be paid to the shareholders of Dr Pepper Snapple Group, Inc. (“DPSG”) as part of the previously announced combination between Maple and DPSG (ii) for the refinancing of DPSG`s existing revolving credit facility and Maple`s existing credit facility and (iii) for the payment of related expenses and expenses. The transaction is expected to be completed in July 2018, subject to the agreement of DPSG shareholders to amend DPSG`s certificate of creation and the issuance of shares of the combined company to Maple shareholders and compliance with customary closing conditions.
Following the merger, the escrows issuer will merge with and into DPSG, the remaining DPSG as a surviving entity, and DPSG will assume all of the escrow issuer`s obligations, collection and other applicable documents through a circumvention of the law. The conclusion of this offer does not depend on the conclusion of the merger.