Coke Florida Announces Completion of $350 Million Credit Facility

TAMPA, Fla.--(BUSINESS WIRE)--Coca-Cola Beverages Florida, LLC (Coke Florida) today announced that it has entered into an agreement to renew its $350 million senior unsecured revolving credit facility (the "Credit Facility").

“This new credit facility strengthens Coke Florida’s financial position and provides additional flexibility to invest strategically in the continued growth and improvement of our business,” said Troy Taylor, Chief Executive Officer of Coke Florida. “The additional capacity will support investments in our facilities, fleet, automation and digital capabilities, while ensuring we have the resources to serve our customers, create opportunities for our associates and continue building a stronger business for the future.”

With a five-year maturity and a $200 million accordion feature, the new Credit Facility replaces Coke Florida's previous $350 million agreement. Borrowings under the new Credit Facility will bear interest at a rate of SOFR plus 0.75% to 1.25%, depending on Coke Florida's leverage ratio.

“Renewing our five-year, $350 million revolving credit facility highlights Coke Florida’s strong financial position and the confidence our banking partners have in our long-term strategy,” said Paul Pheffer, Coke Florida’s Chief Financial Officer. “The oversubscribed facility brought a new banking partner into our syndicate and, together with our BBB+ credit rating, provides the liquidity and flexibility to fund strategic investments and create long-term value for Coke Florida.”

The Credit Facility was arranged by Citibank, N.A., PNC Capital Markets LLC, and BofA Securities, INC., as Joint Lead Arrangers and Joint Bookrunners. Citibank, N.A. will serve as Administrative Agent, PNC Bank, N.A. and Bank of America, N.A., will serve as Co-Syndication Agents, and Co-Documentation Agents. BMO Bank N.A., The Huntington National Bank, and The Northern Trust Company are also participants in the Credit Facility.

About Coca-Cola Beverages Florida, LLC

Coca-Cola Beverages Florida, LLC (Coke Florida) is a strategic bottling partner of The Coca-Cola Company and a growth-focused consumer packaged goods company. We are one of the largest Coca-Cola bottlers in the United States with an exclusive territory that covers forty-seven counties in Florida. Coke Florida makes, sells, and distributes a portfolio of beverages for every occasion including sparkling soft drinks, waters, teas, sports drinks, energy drinks, juices, and value-added dairy drinks. We drive positive economic impact in the communities we serve through employing over 5,000 associates and operating four GreenCircle Certified production facilities and eighteen distribution centers. Our investments in sustainability, education, and economic empowerment are the foundation of our commitment to helping build stronger communities. Founded in 2015 and headquartered in Tampa, Coke Florida is also one of the largest Black-owned businesses in the United States. The company has been recognized as a US Best Managed Company Gold Standard Winner by Deloitte Private and The Wall Street Journal and one of Newsweek’s America’s Greatest Workplaces for Parents and Families 2026, presented in partnership with Plant-A Insights Group. To learn more, visit www.cokeflorida.com and follow us on Instagram, Facebook, and LinkedIn.