Westrock Coffee Co (WEST) Form 8-K — Oct 21, 2026
Westrock Coffee closed a new $600 million senior secured credit facility on October 21, 2026, consisting of a $300 million revolving credit facility and a $300 million term loan with Coöperatieve Rabobank U.A., maturing October 21, 2031. Proceeds repaid all obligations under its 2022 Wells Fargo credit agreement and funded transactions tied to its 5.00% convertible senior notes due 2029. Concurrently, the company amended and restated $32 million of the 2029 converts into 6.00% convertible senior notes due January 31, 2032, cutting the conversion price from $12.84 to $9.50 per share.
Key figures
- Interest Rate
- Term SOFR + 3.50% initially (range 2.50%-4.00%); ABR + 2.50% initially
- Maturity Date
- October 21, 2031
- Notes 2032 rate
- 6.00% per annum
- Term loan facility
- $300 million
- Notes 2032 principal
- $32 million
- Commitment fee initial
- 0.35% per annum
- Redemption trigger price
- $14.25
- Repurchase shares issued
- 2391030
- Revolving credit facility
- $300 million
- Notes 2032 conversion price
- $9.50 (reduced from $12.84)
- Notes repurchased principal
- $40 million
- Repurchase cash consideration
- approximately $21 million
- Fixed charge coverage covenant
- not less than 1.20 to 1.00
- Secured net leverage covenant max
- 4.50 to 1.00, stepping down to 4.00 to 1.00
AI analysis
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