Keurig Dr Pepper Inc. (KDP): debt financing — KDP issues $2B in senior notes; JAB sells 75M shares in secondary offering

Keurig Dr Pepper Inc.

Issued $2.0B aggregate principal of senior unsecured notes across four tranches: floating rate due 2026, 4.350% due 2028, 4.600% due 2030, and 5.150% due 2035.
Notes are unsecured, rank equally with existing unsubordinated debt, and are fully guaranteed by certain domestic subsidiaries.
JAB BevCo completed secondary offering of 75M KDP shares at ~$33.33 each, gross proceeds ~$2.5B; KDP received no proceeds.
JAB BevCo is a holding company majority-owned by JAB Holding Company, previously announced as a registered secondary offering.
Indenture includes standard change-of-control put at 101%, customary events of default, and negative covenants on secured debt and sale-leasebacks.

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 $2.0 billion aggregate principal amount with U.S. Bank Trust Company, National Association at Floating Rate Notes: compounded secured overnight financing rate plus 0.580%; Fi maturing 2028 Notes: May 15, 2028; 2030 Notes: May 15, 2030; 2035 Notes: May 15, 2035; Floating Rate Notes: November 15, 2026.

Instrument: senior notes
Principal: $2.0 billion aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: Floating Rate Notes: compounded secured overnight financing rate plus 0.580%; Fi
Maturity: 2028 Notes: May 15, 2028; 2030 Notes: May 15, 2030; 2035 Notes: May 15, 2035; Floating Rate Notes: November 15, 2026
Event: incurrence

Exact text from the filing

On May 5, 2025, Keurig Dr Pepper Inc. (the “Company”) issued $2.0 billion aggregate principal amount of senior unsecured notes, consisting of $500.0 million aggregate principal amount of Floating Rate Senior Notes due 2026

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Keurig Dr Pepper Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-112841

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