Westrock Coffee Company announced the closing of a new credit agreement on October 21, 2026, for its Beverage Solutions segment. The agreement, led by Coöperatieve Rabobank U.A., New York Branch, establishes a $600 million senior secured first lien credit facility. This facility consists of a $300 million term loan and a $300 million revolving credit facility, maturing on October 21, 2031. The new facilities replace a prior credit agreement with a commitment of $425 million, increasing total commitments by $175 million.
The proceeds from the new facilities were used to repay indebtedness under the prior credit agreement. The company also utilized the funds to facilitate transactions involving its 5.00% convertible senior notes due 2029. The refinancing resulted in enhanced liquidity of approximately $270 million at closing, comprising $40 million in unrestricted cash and $230 million in undrawn revolver commitments.
As part of the same transactions, Westrock Coffee repurchased and cancelled $40 million in aggregate principal amount of its 2029 Convertible Notes. The repurchase was made for approximately $21 million in cash and the issuance of 2,391,030 shares of common stock. Additionally, the company amended and restated the remaining $32 million in aggregate principal amount of the 2029 Convertible Notes. The amended notes, referred to as the 2032 Convertible Notes, accrue interest at a rate of 6.00% per annum and mature on January 31, 2032.
The terms of the 2032 Convertible Notes include an optional redemption feature for the company if the closing price of its common stock reaches at least $14.25 for 120 consecutive trading days. The initial conversion price for these notes was reduced from $12.84 to $9.50 per share, corresponding to an initial conversion rate of approximately 105.26 shares of common stock per $1,000 principal amount. The transactions were authorized by a committee of the Board of Directors comprised solely of disinterested directors.
