Westrock Coffee Extends $361M Debt to Nov 2028 and Tightens Leverage Covenant
WEST•Westrock Coffee extended $361 million of debt maturities from August 2027 to November 2028 while $26 million remains due August 2027. The company terminated covenant relief early, cutting its secured net leverage ratio requirement from 5.00x to 4.00x and reducing borrowing margins.
1. Amendment Details
On June 30, 2026, Westrock Coffee closed an amendment extending the maturity of $361 million under its credit facilities from August 29, 2027, to November 29, 2028, while $26 million remains due August 29, 2027. Texas Capital Bank joined the lending syndicate, which continues to include Wells Fargo, Bank of America, Truist, Rabobank, First Horizon, Stifel, SMBC and members of the Farm Credit System.
2. Covenant Relief Termination
The company elected to end its covenant relief period ahead of schedule, triggering a reduction in its applicable debt margin and lifting temporary borrowing restrictions. The maximum permitted secured net leverage ratio will decline from 5.00x to 4.00x for the test period ending June 30, 2026, and from 4.50x to 4.00x for the test period ending September 30, 2026.
3. Financial Impact and Outlook
CFO Chris Pledger noted that extending debt maturities and early covenant termination will enhance financial flexibility as capital intensity declines and free cash flow improves. Lower borrowing costs and tighter leverage requirements underscore the company’s confidence in its business momentum and support plans for future growth initiatives.
