Farmer Bros. amends ABL revolver, increases maximum to $90 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 9 – Farmer Bros. Co. amended its ABL credit facility with Wells Fargo Bank, NA to provide further flexibility and additional liquidity, according to a new release.

The amendment increases the maximum revolver by about $10 million to $90 million, replaces Libor with SOFR as the interest rate benchmark and resets the margin at 175 basis points from 225 bps.

“We’re pleased to have access to this additional liquidity, which enhances our flexibility to assure adequate inventory levels in the midst of heightened commodity market and pricing pressures,” said Farmer Bros. chief executive officer Deverl Maserang in a news release.

Farmer Bros. is a Northlake, Tex.-based direct distributor of coffee, tea and culinary products.

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