Dean Foods has successfully increased the company’s borrowing base availability to $265 million under its senior secured revolving credit facility by completing post-closing appraisal work.

According to a related 8-K filing, Rabobank served as administrative agent for the transaction. PNC, ING, BMO Harris and CoBank were other lenders in the syndicate.

Chief Executive Officer Ralph Scozzafava said, “During the first quarter, we stated that we expected to expand our revolving credit facility to $265 million by the end of the second quarter and today marks the achievement of that goal. This increases our financial flexibility and further enhances our liquidity. In addition, our existing $450 million accounts receivable securitization facility provides us with another source of flexible, low-cost access to capital. Together, these facilities give us confidence that we currently have ample resources to execute our enterprise-wide cost productivity plan and accelerate our business transformation.”

Headquartered in Dallas, Dean Foods is the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the U.S.