JPMorgan Chase Bank and Silicon Valley Bank served as joint bookrunners and joint lead arrangers on a $150 million five-year secured revolving credit facility to Beyond Meat. The facility includes an accordion feature for up to an additional $200 million and will be used to support future growth.
“Our current cash and liquidity position is strong, and we are pleased to complete this new credit facility on terms that will provide Beyond Meat with a greater amount of financial flexibility and better position the company for long-term success,” Mark Nelson, CFO and treasurer of Beyond Meat, said. “We appreciate the support of our lenders as this transaction lowers our cost of capital, is expected to support our future global growth initiatives and enables greater strategic flexibility. We remain committed to providing consumers around the world with great-tasting plant-based meats, while contributing to important health, climate, natural resource and animal welfare goals.”
The new credit facility matures on April 21, 2025 and replaces Beyond Meat’s existing secured credit arrangements.
Beyond Meat is a U.S. food company that offers a portfolio of plant-based meats.