Starbucks (SBUX) Boosts Revolver to $750M

February 8, 2013 1:01 PM EST Send to a Friend
Starbucks Corp (NASDAQ: SBUX) announced the renewal of its unsecured, revolving credit facility, which increases borrowing capacity from $500 million to $750 million. The credit facility is scheduled to mature on February 5, 2018, and replaces the current facility which was set to mature on November 17, 2014. Funds borrowed under the agreement will complement the company’s strong operational cash flow and may be used for general corporate purposes including working capital, capital expenditures, share repurchases and potential growth opportunities.

Starbucks previous credit facility had the option to request an increase in the aggregate commitments by up to $500 million for a total aggregate facility commitment not to exceed $1 billion. The new facility has the option to request an increase in the aggregate commitments by up to $750 million for a total aggregate facility commitment not to exceed $1.5 billion.

Bank of America, N.A. is serving as the administrative agent, swing line lender and letter of credit issuer for the facility. Wells Fargo Bank, N.A. and Citibank, N.A. are acting as co-syndication agents. The remaining syndicate group is comprised of relationship banks.


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