debt
confidence high
sentiment neutral
materiality 0.50
Starbucks closes $1.5B senior notes offering: $1B at 4.75% due 2026, $500M at 4.80% due 2033
STARBUCKS CORP
- Issued $1B in 4.750% Senior Notes due Feb 2026 and $500M in 4.800% Senior Notes due Feb 2033.
- Notes are senior unsecured and rank equally with existing and future senior unsecured debt.
- Underwriters: BofA Securities, Citigroup, Goldman Sachs, Morgan Stanley; Trustee: U.S. Bank Trust.
- Change-of-control triggering event requires repurchase offer at 101% of principal plus accrued interest.
- Customary covenants and events of default apply; notes are effectively subordinated to subsidiary liabilities.