Westrock Coffee repurchases $40 million in debt
WEST•Westrock Coffee repurchased $40 million of its 5% convertible senior notes due 2029, paying approximately $21 million in cash and issuing approximately 2.4 million common shares. The remaining $32 million of notes had their maturity extended to January 2032, and new $600 million credit facilities refinance debt under the prior agreement.
1. Debt restructuring
Westrock Coffee repurchased $40 million of its 5% convertible senior notes due 2029, with consideration comprising approximately $21 million in cash and 2.4 million common shares. The remaining $32 million of notes had their maturity extended to January 2032. The notes are optionally redeemable if the shares trade at or above $14.25 for more than 120 consecutive trading days.
2. New credit facilities
New $600 million credit facilities, maturing in October 2031, refinanced debt under the prior credit agreement.
