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Keurig Dr Pepper Announces Accepted Amounts and Pricing of Tender Offers for Outstanding Series of its Senior Unsecured Notes
BURLINGTON, Mass. and FRISCO, Texas, April 21, 2022 /PRNewswire/ -- April 21, 2022 – As part of the Company's strategic refinancing announced on April 7,
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"BURLINGTON, Mass. and FRISCO, Texas, April 21, 2022 /PRNewswire/ -- April 21, 2022 – As part of the Company's strategic refinancing announced on April 7, 2022, Keurig Dr Pepper Inc. (NASDAQ: KDP) announced today the aggregate principal amount accepted for purchase and the consideration payable in connection with its previously announced series of tender offers to purchase for cash (i) up to $485,000,000 aggregate purchase price, excluding accrued and unpaid interest (the \"2025 Maximum Amount\"), of its 4.417% Senior Notes due 2025 (the \"2025 Notes\"), (ii) up to $924,511,297.50 aggregate purchase price, excluding accrued and unpaid interest (the \"2028 Maximum Amount\"), of its 4.597% Senior Notes due 2028 (the \"2028 Notes\") and (iii) up to $699,124,985.44 aggregate purchase price, excluding accrued and unpaid interest (the \"Long Dated Maximum Amount\" and, together with the 2025 Maximum Amount and the 2028 Maximum Amount, the \"Maximum Amounts\"), of its 5.085% Senior Notes due 2048, its 4.985% Senior Notes due 2038, its 4.500% Senior Notes due 2045 and its 4.420% Senior Notes due 2046 (collectively, the \"Long Dated Notes\" and, together with the 2025 Notes and the 2028 Notes, the \"Notes\"), subject to prioritized acceptance levels listed in the table below, for a total aggregate purchase price, excluding accrued and unpaid interest, of approximately $2.1 billion.\nThe table below sets forth, among other things, the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on April 20, 2022 (the \"Early Tender Date\") and accepted for purchase in each tender offer, the proration factor for the 2025 Notes and the Total Consideration for each series of Notes, as calculated at 10:00 a.m., New York City time, today, April 21, 2022.\n \nTitle of Security\nCUSIP Number\nPrincipal Amount Outstanding\nMaximum Amount(1)\nAcceptance Priority Level(2)\nU.S. Treasury Reference Security\nBloomberg Reference Page\nFixed Spread\nReference Yield\nPrincipal Amount Tendered at Early Tender Date\nPrincipal Amount Accepted\nApproximate Proration Factor\nTotal Consideration\n(3)(4)\n2025 Tender Offer\n4.417% Senior Notes due 2025\n49271VAH3\n565122AD0\nU56495AD3\n$1,000,000,000\n$485,000,000\n1\n1.750% UST due March 15, 2025\nFIT1\n+43 bps\n2.888%\n$618,527,000\n$470,68...