Stocks
Coke Florida Secures New $350 Million Credit Facility with Additional $200 Million Accordion
Coca-Cola Beverages Florida has secured a new $350 million senior unsecured revolving credit facility, providing the company with additional liquidity for strategic investments.
The five-year agreement replaces a previous $350 million facility and includes a $200 million accordion feature that could increase total borrowing capacity to $550 million if exercised.
Borrowings under the new facility will carry interest at the Secured Overnight Financing Rate (SOFR) plus 0.75% to 1.25%, depending on the company's leverage ratio.