Skip to main content

JDE Peet’s links new debt facilities to sustainability ambitions

Written by Customer Service on . Posted in Public Companies.

Company completes EUR 6.5 billion refinancing of its existing indebtedness

Press release

Amsterdam, 31 March 2021

Key highlights

  • EUR 6.5 billion debt secured at investment grade terms with no financial covenants
  • Refinancing improves the debt structure and provides financial flexibility and access to the bond market
  • New facilities are linked to JDE Peet’s sustainability ambitions including a new commitment to the Science Based Target Initiative to address Climate Change

JDE Peet’s (EURONEXT: JDEP), the world’s largest pure-play coffee and tea group by revenue today announced that it has completed the refinancing of its existing indebtedness.

The EUR 6.5 billion new financing comprises two key elements:

  • New, long-term investment grade debt facilities at JDE Peet’s N.V., including a EUR 1 billion term facility and a EUR 1.5 billion revolving credit facility, providing EUR 0.5 billion of additional liquidity.
  • A full or substantial repayment of the indebtedness of Peet’s Coffee and JDE International B.V. respectively. The remaining indebtedness at JDE International B.V. has been amended to investment grade terms and is now unsecured.

The new facilities are provided by 25 global financial institutions.

The new EUR 2.5 bn investment grade facilities are connected to the company’s sustainability ambitions. JDE Peet’s has agreed with its core banks on a framework that leads the pricing mechanism to incentivise improvement in key sustainability areas affecting the industry and the company’s eco-system:

  • Purchasing certified or verified coffee and responsibly sourced palm oil
  • Supporting  smallholder farmers through technical and other assistance
  • Using recyclable, compostable and reusable packaging
  • Reducing greenhouse gas emissions as part of our new formal commitment to the Science Based Target Initiative

“The successful refinancing of our debt and the revised capital structure is an important step in the journey of JDE Peet’s since our IPO last year. With these new facilities, we improve our debt structure, lower our cost of debt and further enhance our liquidity. I am also excited that we are embedding our sustainability goals into the capital structure of the company”, said Scott Gray, CFO of JDE Peet’s. “Linking the new facilities to our sustainability ambitions marks an important milestone in our sustainability journey and demonstrates our long-term commitment to addressing the most important environmental and social issues affecting the coffee industry and our eco-system. I am pleased as well by the endorsement from our core banking group of our sustainability strategy and our strong business profile”.

###

Enquiries

Media
Michael Orr
Media@JDEPeets.com
+31 20 55 81600

Investors & Analysts
Robin Jansen
IR@JDEPeets.com
+31 20 55 81212

About JDE Peet’s
JDE Peet’s is the world’s largest pure-play coffee and tea company by revenue and served approximately 4,500 cups of coffee or tea every second in 2020. JDE Peet’s unleashes the possibilities of coffee and tea in more than 100 developed and emerging markets through a portfolio of over 50 brands that collectively cover the entire category landscape led by household names such as L’OR, Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2020, JDE Peet’s generated total sales of EUR 6.7 billion and employed a global workforce of more than 19,000 employees. Read more about our journey towards a coffee and tea for every cup at www.JDEPeets.com.

Attachment

  • JDE Peet’s links new debt facilities to sustainability ambitions

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.