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Utz Brands Announces Closing of Term Loan Refinancing


Press release content from Business Wire. The AP news staff was not involved in its creation.
Utz Brands Announces Closing of Term Loan Refinancing
January 20, 2021 GMT
HANOVER, Pa. (BUSINESS WIRE) Jan 20, 2021
Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), announced today the closing of its term loan refinancing. Initially contemplated as a $310 million add-on to the existing Term Loan B due 2024, following robust investor demand, Utz placed a new $720 million Term Loan B due 2028 (the “New Term Loan”), enabling the Company to extend its maturity profile and reset certain terms of its credit agreement. The New Term Loan, together with approximately $181 million in cash proceeds received from the redemption of all outstanding public warrants and forward purchase warrants, repaid in full the $490 million Bridge Credit Facility used to fund the acquisition of Truco Enterprises and the On The Border® brand, as well as refinanced the pre-existing ....

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Rice and Lissette Families Double Utz Stock Donation to the Rice Family Foundation, Bringing Contribution to Hanover, PA Community to $20 Million


Press release content from Business Wire. The AP news staff was not involved in its creation.
Rice and Lissette Families Double Utz Stock Donation to the Rice Family Foundation, Bringing Contribution to Hanover, PA Community to $20 Million
January 13, 2021 GMT
HANOVER, Pa. (BUSINESS WIRE) Jan 13, 2021
After announcing their intent to make a donation of $10 Million of Utz stock to the Rice Family Foundation early last fall, the Rice and Lissette families – part of the third and fourth generations of the Utz family legacy – are now doubling their contribution.
This contribution of $20 million in Utz shares will allow the foundation to increase its annual giving by approximately 5 times, aiding local organizations supporting the education, health and general well-being of residents of Hanover and the broader central Pennsylvania community. ....

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