10:45 AM EDT, 05/08/2024 (MT Newswires) -- Monster Beverage ( MNST ) said Wednesday it has initiated a modified Dutch auction tender offer to buy back its common shares at between $53.00 and $60.00 per share, totaling up to $3 billion.

The tender offer expires on June 5 and will be funded through a combination of $2 billion in cash reserves, $750 million from a new term loan, and $250 million from a new revolving credit facility.

Monster Beverage ( MNST ) also plans to finalize a new credit agreement, including a $750 million senior term loan and a $750 million revolving credit facility, before the tender offer expires.

Monster Beverage ( MNST ) shares were up 0.1% at $54.70 in recent trading.

Price: 54.75, Change: +0.07, Percent Change: +0.14