Keurig Dr Pepper (NYSE: KDP) announced today the pricing of its previously-announced $1.5 billion public offering of senior notes, in a transaction that was nearly 10x oversubscribed. The offering consists of $750 million aggregate principal amount of 3.20% senior notes due 2030 and $750 million aggregate principal amount of 3.80% senior notes due 2050. Subject to customary conditions, the offering is expected to close on April 13, 2020.
The Notes will be the unsecured and unsubordinated obligations of the Company and will rank equally in right of payment with all of the Company's current and future unsubordinated indebtedness. The Notes will be guaranteed by certain of the Company's domestic subsidiaries (each a "Subsidiary Guarantor") and will be fully and unconditionally guaranteed by all of its existing and future subsidiaries that guarantee any of its other indebtedness (each a "Subsidiary Guarantee"). Each such Subsidiary Guarantee will be an unsecured and unsubordinated obligation of the Subsidiary Guarantor providing such Subsidiary Guarantee and will rank equally in right of payment which such Subsidiary Guarantor's current and future unsubordinated indebtedness.
About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and 25,000+ employees. KDP holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company's portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. The Company is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability.
