Whole Earth Brands, Inc. Increases Revolving Credit Facility to $125 Million
June 17 2022 - 7:30AM
Whole Earth Brands, Inc. (the “Company”) (Nasdaq: FREE) a global
food company enabling healthier lifestyles through premium
plant-based sweeteners, flavor enhancers and other foods, today
announced that it completed an amendment, effective June 15, 2022,
to its amended and restated credit agreement (the “Agreement”) with
its lenders. The Agreement was amended to (i) reflect a $50 million
increase in the size of the Company’s existing revolving credit
facility from $75 million to $125 million; and (ii) to replace
LIBOR with SOFR as the reference interest rate. There were no other
substantive changes to the Agreement.
“We are grateful to our lending partners for
their support and the confidence they have in the Company executing
its business plan. We believe that the additional financial
flexibility afforded to us through the upsized revolver will allow
us to continue our profitable growth journey while preserving ample
liquidity," said Duane Portwood, Chief Financial Officer.
Three lenders participated in the $50 million
increase to the revolving credit facility agented by TD Securities:
The Toronto-Dominion Bank, New York Branch, Truist Bank, and BMO
Harris Bank N.A.
About Whole Earth Brands
Whole Earth Brands is a global food company
enabling healthier lifestyles and providing access to premium
plant-based sweeteners, flavor enhancers and other foods through
our diverse portfolio of trusted brands and delicious products,
including Whole Earth Sweetener®, Wholesome®, Swerve®, Pure Via®,
Equal® and Canderel®. With food playing a central role in people’s
health and wellness, Whole Earth Brands’ innovative product
pipeline addresses the growing consumer demand for more dietary
options, baking ingredients and taste profiles. Our world-class
global distribution network is the largest provider of plant-based
sweeteners in more than 100 countries with a vision to expand our
portfolio to responsibly meet local preferences. We are committed
to helping people enjoy life’s everyday moments and the
celebrations that bring us together. For more information on how we
“Open a World of Goodness®,” please visit
www.WholeEarthBrands.com.
Contacts:
Investor Relations Contacts:Whole Earth
Brands312-840-5001investor@wholeearthbrands.com
ICRJeff Sonnek646-277-1263jeff.sonnek@icrinc.com
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