Dr Pepper Snapple pays down $125 million of term loan in quarter

By Sara Rosenberg

New York, Aug. 13 - Dr Pepper Snapple Group Inc. repaid $125 million of its floating-rate term loan during the second quarter, according to a news release.

Year to date, the company made optional principal repayments of $280 million, covering substantially all of its 2010 obligations.

Furthermore, the company said that it remains committed to using its free cash flow to pay down debt and now expects to reduce its debt obligations by at least $475 million in 2009. This reflects an increase of $75 million from its previous guidance.

Dr Pepper Snapple Group is a Plano, Texas-based producer of flavored beverages.

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