Westrock Coffee (NASDAQ: WEST) pushes $361M credit maturity to 2028 and tightens leverage covenants
Rhea-AI Filing Summary
Westrock Coffee Company extended the maturity of approximately $361 million of loans and commitments under its credit facilities from August 29, 2027 to November 29, 2028, with about $26 million still maturing on August 29, 2027. The amendment also introduces conditions that certain restricted payments depend on a secured net leverage ratio at or below 3.75x and minimum liquidity of $25,000,000 on a pro forma basis. Separately, Westrock Coffee elected to end the covenant relief period early, which lowers the applicable margin on loans, removes temporary restrictions, and tightens the secured net leverage covenant from 5.00x to 4.00x for the test period ending June 30, 2026 and from 4.50x to 4.00x for the test period ending September 30, 2026.
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Insights
Westrock Coffee extends key debt maturities while accepting tighter leverage tests.
Westrock Coffee Company amended its credit agreement to push out the maturity of approximately $361 million of loans and commitments from August 29, 2027 to November 29, 2028, leaving about $26 million still due in 2027. This lengthens the company’s debt runway and adds Texas Capital Bank to the lending group.
The amendment makes certain restricted payments conditional on a secured net leverage ratio no greater than 3.75% and minimum liquidity of $25,000,000 on a pro forma basis. Westrock Coffee also ended its covenant relief period early, which reduces loan margins but tightens the maximum secured net leverage ratio from 5.00x to 4.00x for the test period ending June 30, 2026 and from 4.50x to 4.00x for the period ending September 30, 2026.
Overall, the changes trade higher covenant flexibility for longer maturities and lower interest margins. Actual impact will depend on Westrock Coffee’s ability to operate within the new 4.00x secured net leverage ceiling and maintain liquidity at or above $25,000,000 as outlined in the amended agreement.
8-K Event Classification
Key Figures
Key Terms
Amended Credit Agreement financial
covenant relief period financial
secured net leverage ratio financial
emerging growth company regulatory
forward-looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On June 30, 2026, Westrock Coffee Company, a Delaware corporation (the “Company”), entered into Amendment No. 6 (the “Amendment”) among Westrock Beverage Solutions, LLC, a Delaware limited liability company (the “Borrower”), the Company, the other guarantors party thereto, the lenders and issuing banks party thereto and Wells Fargo Bank, N.A., as administrative agent and collateral agent, to the Credit Agreement dated as of August 29, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified, including as amended by the Amendment, the “Amended Credit Agreement”), among the Borrower, the Company, Wells Fargo Bank, N.A., as administrative agent, as collateral agent and as swingline lender, Wells Fargo Securities, LLC, as sustainability structuring agent, the issuing banks party thereto from time to time and the lenders party thereto from time to time.
The Amendment extends the maturity date of approximately $361 million of the loans and commitments under the Company’s credit facilities from August 29, 2027 to November 29, 2028 and makes certain restricted payments subject to the secured net leverage ratio being no greater than 3.75x and liquidity being no less than $25,000,000, in each case on a pro forma basis. Approximately $26 million of the loans and commitments under the Company’s credit facilities will continue to mature on August 29, 2027. In connection with the Amendment, Texas Capital Bank has also become a lender.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the terms of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
| Item 8.01. | Other Events. |
On June 30, 2026, the Borrower elected to terminate the covenant relief period under the Amended Credit Agreement prior to its scheduled expiration on October 1, 2026. As a result, the applicable margin on any loans will decrease, certain restrictions limited to the covenant relief period will no longer apply, and the maximum permitted secured net leverage ratio under the secured net leverage ratio financial covenant will decrease from 5.00x to 4.00x for the test period ending June 30, 2026, and from 4.50x to 4.00x for the test period ending September 30, 2026.
On June 30, 2026, the Company issued a press release announcing the closing of the Amendment and the termination of the covenant relief period under the Amended Credit Agreement. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 10.1* | Amendment No. 6, dated as of June 30, 2026, among Westrock Beverage Solutions, LLC, as the borrower, Westrock Coffee Company, as holdings, the other guarantors party thereto, the lenders and issuing banks party thereto and Wells Fargo Bank, N.A., as administrative agent and collateral agent | |
| 99.1 | Press Release, dated as of June 30, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Certain schedules have been omitted from this exhibit in accordance with Item 601(a)(5) of Regulation S-K. The Company agrees to furnish a copy of any omitted schedules to the Securities and Exchange Commission upon request.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WESTROCK COFFEE COMPANY
| By: | /s/ L. Keith Harvey | |||
| Name: | L. Keith Harvey | |||
| Title: | Senior Vice President - Chief Legal Officer and Corporate Secretary | |||
Dated: June 30, 2026
Exhibit 99.1
Westrock
Coffee Company Announces
Maturity Extension of its Credit Facilities
LITTLE ROCK, June 30, 2026 (BUSINESS WIRE) – Westrock Coffee Company (NASDAQ: WEST) (“Westrock Coffee” or the “Company”), an integrated beverage solutions platform serving the world’s largest brands across packaged coffee, tea, ready-to-drink coffee, energy, and functional beverage categories, today announced the closing of an amendment to the Company’s existing credit agreement that extends the maturity date of approximately $361 million of the loans and commitments under its credit facilities from August 29, 2027 to November 29, 2028, with the remaining approximately $26 million continuing to mature on August 29, 2027. Texas Capital Bank has also become a lender in connection with the amendment.
Chris Pledger, Chief Financial Officer of Westrock Coffee, commented, “Extending the maturity of our credit facility to November 2028 provides Westrock Coffee with meaningful financial flexibility as we move beyond the peak investment phase of our Conway facility and into a period of declining capital intensity and improving free cash flow. Given the continued strength of our business performance, we also elected to terminate the covenant relief period ahead of schedule, which lowers our borrowing costs and reflects the underlying momentum across our platform. I want to thank the banks in our syndicate – Wells Fargo, Bank of America, Truist, Rabobank, First Horizon, Stifel and SMBC – as well as the members of the Farm Credit System, for their continued support and partnership, and we are pleased to welcome Texas Capital Bank as we continue to build a truly exceptional business.”
As a result of the Company’s early termination of the covenant relief period under the credit agreement prior to its scheduled expiration on October 1, 2026, the applicable margin on any loans will decrease, certain restrictions limited to the covenant relief period will no longer apply, and the maximum permitted secured net leverage ratio under the secured net leverage ratio financial covenant will decrease from 5.00x to 4.00x for the test period ending June 30, 2026, and from 4.50x to 4.00x for the test period ending September 30, 2026.
Wells Fargo Securities, LLC acted as lead arranger and bookrunner, and Wells Fargo Bank, National Association acted as administrative agent in connection with the amendment. Wachtell, Lipton, Rosen & Katz served as legal counsel to Westrock Coffee.
About Westrock Coffee Company:
Westrock Coffee is an integrated beverage solutions platform serving the world’s largest brands across packaged coffee, tea, ready-to-drink coffee, energy, and functional beverage categories. With our global manufacturing and sourcing footprint, the Company formulates, manufactures, and packages beverages in cans, glass, multi-serve bottles, single-serve capsules, bulk extract, and concentrates, backed by a digitally traceable supply chain. With operations spanning 10 countries, Westrock Coffee partners with brands across retail, foodservice, convenience, CPG, and hospitality to bring beverage programs to market at scale.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, our future capital intensity, cash flows, long term financing, growth opportunities, and other statements that are not historical facts. These statements are based on information available to Westrock Coffee as of the date hereof and Westrock Coffee is not under any duty to update any of the forward-looking statements after the date of this press release to conform these statements to actual results. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Westrock Coffee. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; our inability to secure an adequate supply of key raw materials, including green coffee and tea, or a disruption in our supply chain, including from tariffs or trade restrictions or global conflicts (including the ongoing conflicts in Europe, the Middle East and Latin America); risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee’s business and the timing of expected business milestones; our inability to successfully commercialize customers at our Conway, Arkansas facility, and generate positive operating cash flows within the anticipated time frame; the effects of competition and industry consolidation on Westrock Coffee’s business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain, refinance or extend the maturities of debt financing in the future; Westrock Coffee’s future level of indebtedness, which may reduce funds available for other business purposes and reduce the Company’s operational flexibility; Westrock Coffee’s inability to comply with the financial covenants in our credit agreement; the risk that Westrock Coffee fails to attract, motivate or retain qualified personnel; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or joint ventures or has difficulty successfully integrating acquired companies; the loss of significant customers or delays in bringing their products to market; litigation or legal disputes, which could lead us to incur significant liabilities and costs or harm our reputation; the risk of incurring additional costs when Westrock Coffee no longer qualifies as an emerging growth company (as defined in the JOBS Act); and those factors discussed in Westrock Coffee’s Annual Report on Form 10-K, which was filed with the United States Securities and Exchange Commission (the “SEC”) on March 10, 2026, in Part I, Item 1A “Risk Factors” and other documents Westrock Coffee has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Westrock Coffee does not presently know, or that Westrock Coffee currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, the forward-looking statements reflect Westrock Coffee’s expectations, plans, or forecasts of future events and views as of the date of this press release. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee’s assessments to change. However, while Westrock Coffee may elect to update these forward-looking statements at some point in the future, Westrock Coffee specifically disclaims any obligation to do so unless required by applicable law. These forward-looking statements should not be relied upon as a representation of Westrock Coffee’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contacts
Media:
PR@westrockcoffee.com
Investor Contact:
IR@westrockcoffee.com
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