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JPMorgan Chase, SVB Provide up to $150MM Credit Facility for Beyond Meat

April 23, 2020, 09:10 AM

Beyond Meat, Inc., a food company specializing in plant-based meat, announced that it has entered into a new $150 million five-year secured revolving credit facility to support its future growth initiatives. The New Credit Facility also includes an accordion feature for up to an additional $200 million.

“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,” said Mark Nelson, Beyond Meat’s Chief Financial Officer and Treasurer. “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 the Company’s existing secured credit arrangements.

JPMorgan Chase Bank, N.A. and Silicon Valley Bank acted as joint bookrunners and joint lead arrangers on the transaction.

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