Krispy Kreme, Inc. (NASDAQ: DNUT), which moved its corporate headquarters from Winston Salem to Charlotte in 2017, announced this morning that it has successfully completed the refinancing of existing Term Loan A and Revolver Facilities. The new $700 million Term Loan A and $300 million revolver extends maturities until March of 2028 at the same terms to existing facilities and welcomes several new creditors into the company’s facilities. There is no change in the Company’s net debt as a result of this refinancing.
Jeremiah Ashukian, the Company’s Chief Financial Officer, commented, “We are pleased that this well over-subscribed refinancing was completed with enthusiasm from both existing and as well as new financial partners. With a strong balance sheet and growing free cash flow, we are well positioned for robust capital efficient omni-channel growth in the coming years.”
With the completion of the refinancing, the Company continues to expect between $39 and $43 million of Interest Expense, Net and to continue to de-lever our balance sheet in 2023, as part of our efforts towards our 2026 net leverage goal of 2.0x to 2.5x.