Dutch Bros extends $650 million credit facility to May 2030 and draws $200 million
Dutch Bros subsidiaries entered into an amended and restated $650 million senior secured credit facility with JPMorgan Chase Bank, N.A. as administrative agent, effective May 29, 2025, which replaces the 2022 facility. The new facility expires May 29, 2030, and on the effective date the borrowers drew the full $150 million term loan and $50 million in revolving loans. The facility includes leverage and coverage covenants and restrictions on additional debt, liens, acquisitions, and restricted payments, which shareholders may want to track.
Key points
- Replaces the 2022 Credit Facility, which was repaid and terminated, with a facility expiring May 29, 2030.
- Provides up to $650 million in credit: a $500 million revolving facility and a term loan of up to $150 million.
- On May 29, 2025, the Loan Parties drew the full $150 million term loan and $50 million in revolving loans.
- Quarterly commitment fee of 0.20% to 0.45% on unused revolver capacity; accordion option of up to the greater of $230 million or 80% of EBITDAR.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 30, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.