Coca-Cola Consolidated enters new $500M revolver and $70M term loan, refinances existing debt

Coca-Cola Consolidated, Inc.

New $500M unsecured revolving credit facility matures July 9, 2026; replaces $500M 2018 facility.
New $70M unsecured term loan facility matures July 9, 2024; fully drawn on July 9, 2021.
$55M of term loan proceeds used to refinance 2018 revolver borrowings; $15M for general corporate purposes.
Covenants: consolidated cash flow/fixed charges ratio >= 1.5:1; funded debt/cash flow ratio <= 6.0:1.
Rates tied to debt ratings; current LIBOR spread 0.875%, facility fee 0.125%.

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