Coca Cola Consolidated : Termination of Material Agreement Form 8 K
June 24, 2024 at 04:18 pm EDT
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Item 1.02.
Termination of a Material Definitive Agreement
On June 20, 2024, Coca-Cola Consolidated, Inc. (the "Company") gave notice, effective as of June 27, 2024, of its permanent reduction to zero of the commitments under its term loan agreement (the "Term Loan Agreement") dated as of June 10, 2024 by and among the Company, Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent, and the other lenders party thereto. The Term Loan Agreement provided for a senior unsecured term loan facility in the aggregate principal amount of up to $800 million, maturing on June 10, 2027 (the "Three-Year Term Loan Facility"), and a senior unsecured term loan facility in the aggregate principal amount of up to $500 million maturing on June 10, 2029 (the "Five-Year Term Loan Facility" and, together with the Three-Year Term Loan Facility, the "Term Loan Facilities"). Upon the effectiveness of the notice, the aggregate commitments under the Term Loan Facilities will be reduced in accordance with their terms from $1,300 million to zero. There are no amounts outstanding under the Term Loan Facilities.
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Coca-Cola Consolidated, Inc. distributes, markets and manufactures nonalcoholic beverages, primarily products of The Coca-Cola Company. The Company also distributes products for several other beverage companies, including Keurig Dr Pepper Inc. and Monster Energy Company. The Company offers a range of nonalcoholic beverage products and flavors, including both sparkling and still beverages. Sparkling beverages are carbonated beverages, and the Company's principal sparkling beverage is Coca-Cola. Its beverages include energy products and noncarbonated beverages such as bottled water, ready to drink tea, ready to drink coffee, enhanced water, juices and sports drinks. The Company's products are sold and distributed in the United States through various channels, which include selling directly to customers, including grocery stores, mass merchandise stores, club stores, convenience stores and drug stores, selling to on-premise locations, where products are typically consumed immediately.