Molson Coors Beverage Company filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On June 3, 2024, Molson Coors Beverage Company (the “Company”) entered into that certain Amendment No.1 and Extension Agreement (the “Amendment and Extension Agreement”), by and among the Company, the Extending Lenders (as defined in the Amendment and Extension Agreement) and Citibank, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), which amends that certain Amended and Restated Credit Agreement, dated as of June 26, 2023, by and among the Company, Molson Coors Brewing Company (UK) Limited), Molson Canada 2005, Molson Coors Canada Inc., Molson Coors International LP, as Borrowers, the lenders party thereto from time to time, the Administrative Agent and Citibank, N.A., Bank of America, N.A. and Goldman Sachs Bank USA, as Issuing Banks (the “Amended and Restated Credit Agreement”).
The Amendment and Extension Agreement amends the Amended and Restated Credit Agreement to, among other things, (i) change the interest rate under the Amended and Restated Credit Agreement for borrowings denominated in Canadian Dollars from a CDOR-based rate to a rate based on Canadian Overnight Repo Rate Average (CORRA), subject to the adjustments specified in the Credit Agreement, and (ii) extend the maturity date of the revolving commitments under the Amended and Restated Credit Agreement from June 26, 2028 to June 26, 2029.
The foregoing description of the material terms of the Amendment and Extension Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment and Extension Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above in Item 1.01 of this Current Form on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Document Description |
| 10.1 | Amendment No.1 and Extension Agreement, dated as of June 3, 2024, by and among Molson Coors Beverage Company, the Extending Lenders party thereto and Citibank, N.A., as Administrative Agent. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MOLSON COORS BEVERAGE COMPANY | ||
| Date: June 7, 2024 | By: | /s/ Natalie G. Maciolek |
| Natalie G. Maciolek | ||
| Chief Legal & Government Affairs Officer and Secretary | ||