Keurig Dr Pepper Inc. (KDP): debt financing — Keurig Dr Pepper issues $3.0B in senior unsecured notes across five tranches

Keurig Dr Pepper Inc.

$3.0B issuance: $350M floating rate (SOFR+0.880%), $750M 5.100% '27, $750M 5.050% '29, $500M 5.200% '31, $650M 5.300% '34.
Floating rate notes mature Mar 2027; fixed rate notes mature Mar 2027, 2029, 2031, 2034.
Notes unsecured, rank equally with existing unsubordinated debt; guaranteed by certain domestic subsidiaries.
Change of control triggering event requires company to offer repurchase at 101% of principal plus accrued interest.
Interest payable semi-annually (fixed) and quarterly (floating); first payments Jun 15 (floating) and Sep 15, 2024 (fixed).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Keurig Dr Pepper Inc. incurred senior notes of $3.0 billion aggregate principal amount of senior unsecured notes with U.S. Bank Trust Company, National Association at Floating Rate Notes: compounded secured overnight financing rate plus 0.880%; Fi maturing March 15, 2027; March 15, 2029; March 15, 2031; March 15, 2034.

Instrument: senior notes
Principal: $3.0 billion aggregate principal amount of senior unsecured notes
Counterparty: U.S. Bank Trust Company, National Association
Rate: Floating Rate Notes: compounded secured overnight financing rate plus 0.880%; Fi
Maturity: March 15, 2027; March 15, 2029; March 15, 2031; March 15, 2034
Event: incurrence

Exact text from the filing

On March 7, 2024, Keurig Dr Pepper Inc. (the “Company”) issued $3.0 billion aggregate principal amount of senior unsecured notes, consisting of $350.0 million aggregate principal amount of Floating Rate Senior Notes due 2027 (the “Floating Rate Notes”), $750.0 million aggregate principal amount of 5.100% Senior Notes due 2027 (the “2027 Notes”), $750.0 million aggregate principal amount of 5.050% Senior Notes due 2029 (the “2029 Notes”), $500.0 million aggregate principal amount of 5.200% Senior Notes due 2031 (the “2031 Notes”) and $650.0 million aggregate principal amount of 5.300% Senior Notes due 2034 (the “2034 Notes”

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Keurig Dr Pepper Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $3.0 billion aggregate principal amount (effective 2024-03-07).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $3.0 billion aggregate principal amount
Effective: 2024-03-07

Exact text from the filing

On March 7, 2024, Keurig Dr Pepper Inc. (the “Company”) issued $3.0 billion aggregate principal amount of senior unsecured notes, consisting of $350.0 million aggregate principal amount of Floating Rate Senior Notes due 2027 (the “Floating Rate Notes”), $750.0 million aggregate principal amount of 5.100% Senior Notes due 2027 (the “2027 Notes”), $750.0 million aggregate principal amount of 5.050% Senior Notes due 2029 (the “2029 Notes”), $500.0 million aggregate principal amount of 5.200% Senior Notes due 2031 (the “2031 Notes”) and $650.0 million aggregate principal amount of 5.300% Senior Notes due 2034 (the “2034 Notes” and, together with the 2027 Notes, the 2029 Notes, and the 2031 Notes, the “Fixed Rate Notes,” and together with the Floating Rate Notes, the “Notes”), pursuant to an indenture, dated as of March 7, 2024, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Base Indenture”), as supplemented by the First Supplemental Indenture theret

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299 debt financings filed in the last 30 days. Browse all debt financings →

Keurig Dr Pepper Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-062259

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