Whole Earth Brands, a global food company that provides plant-based sweeteners, flavor enhancers and other foods, completed an amendment, effective June 15, to its amended and restated credit agreement with its lenders. The agreement was amended to reflect a $50 million increase in the size of the company’s existing revolving credit facility from $75 million to $125 million and 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,” Duane Portwood, CFO of Whole Earth Brands, said.
The New York branch of TD Bank, Truist Bank and BMO Harris Bank participated in the $50 million increase to the revolving credit facility, which was agented by TD Securities.
