---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-112841"
form_type: "8-K"
ticker: "KDP"
cik: "0001418135"
company_name: "Keurig Dr Pepper Inc."
filed_at: "2025-05-05T23:59:59+00:00"
generated_at: "2026-05-22T16:59:03.274958+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# KDP issues $2B in senior notes; JAB sells 75M shares in secondary offering

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-112841
- form_type: 8-K
- ticker: KDP
- cik: 0001418135
- company_name: Keurig Dr Pepper Inc.
- filed_at: 2025-05-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418135/000119312525112841/0001193125-25-112841-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418135/000119312525112841/d941579d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-112841
- JSON: https://secwatch.observer/filing/0001193125-25-112841.json
- Plain text: https://secwatch.observer/filing/0001193125-25-112841.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.