05:25 PM EDT, 05/23/2024 (MT Newswires) -- Monster Beverage ( MNST ) and its Monster Energy and Monster Energy US units entered into a credit agreement with JPMorgan Chase's ( JPM ) unit JPMorgan Chase Bank, according to a late Thursday filing.

The credit agreement includes a three-year unsecured delayed draw term loan facility of $750 million and a five-year unsecured revolving credit facility of $750 million, Monster Beverage ( MNST ) said. The company may request an increase of up to $750 million in the principal amounts of the facilities under the credit agreement, subject to lenders' approval.

The term loan facility is due and payable on May 22, 2027, while the revolving facility is due and payable on May 22, 2029, but its maturity date may be extended for up to two additional one-year periods, the company said.

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