Starbucks announced the renewal of its unsecured, revolving credit facility, which increases borrowing capacity from $500 million to $750 million. The credit facility is scheduled to mature on February 5, 2018, and replaces the current facility which was set to mature on November 17, 2014.

The company said Bank of America is serving as the administrative agent, swing line lender and letter of credit issuer for the facility. Wells Fargo Bank and Citibank are acting as co-syndication agents. The remaining syndicate group is comprised of relationship banks.

“Our new credit agreement increases our borrowing capacity significantly, while lowering our cost of credit and extending the availability of funds for the next five years,” said Troy Alstead, Starbucks chief financial officer. “Augmenting Starbucks already strong cash flow generation, this credit facility will provide the company with the flexibility and resources to effectively manage our business and pursue additional opportunities to build shareholder value.”