Thursday 30 May 2024
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Krispy Kreme closes refinancing of term loan, revolver facilities

Jeremiah Ashukian, the Company’s Chief Financial Officer, commented, “We are pleased that this well over-subscribed refinancing was completed with enthusiasm from both existing and as well as new financial partners. With a strong balance sheet and growing free cash flow, we are well positioned for robust capital efficient omni-channel growth in the coming years”

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CHARLOTTE, N.C., USA – Krispy Kreme, Inc. (NASDAQ: DNUT) (“Krispy Kreme” or the “Company”) yesterday announced that it has successfully completed the refinancing of existing Term Loan A and Revolver Facilities. The new $700 million Term Loan A and $300 million revolver extends maturities until March 2028 at the same terms to existing facilities and welcomes several new creditors into our facilities.

There is no change in the Company’s net debt as a result of this refinancing.

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Jeremiah Ashukian, the Company’s Chief Financial Officer, commented, “We are pleased that this well over-subscribed refinancing was completed with enthusiasm from both existing and as well as new financial partners. With a strong balance sheet and growing free cash flow, we are well positioned for robust capital efficient omni-channel growth in the coming years.”

With the completion of the refinancing, the Company continues to expect between $39 and $43 million of Interest Expense, Net and to continue to de-lever our balance sheet in 2023, as part of our efforts towards our 2026 net leverage goal of 2.0x to 2.5x.

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About Krispy Kreme

Headquartered in Charlotte, N.C., Krispy Kreme operates in over 30 countries through its unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing Ecommerce and delivery business with approximately 12,000 fresh points of access.

Connect with Krispy Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including www.Facebook.com/KrispyKreme and www.Twitter.com/KrispyKreme.

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