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Keurig Dr Pepper Announces Tender Offers for Outstanding Series of its Senior Unsecured Notes
BURLINGTON, Mass. and FRISCO, Texas, April 7, 2022 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP) announced today the commencement of a series of tender
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"BURLINGTON, Mass. and FRISCO, Texas, April 7, 2022 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP) announced today the commencement of a series of tender offers to purchase for cash certain of its outstanding series of senior unsecured notes listed in the table below (collectively, the \"Notes\") for an aggregate purchase price, excluding accrued and unpaid interest, of up to $1.6 billion. \nTitle of Security\nCUSIP Number\nPrincipal \nAmount Outstanding\nMaximum Amount(1)\nAcceptancePriority Level(2)\nU.S.TreasuryReference Security\nBloomberg Reference Page\nFixed Spread\nEarlyTenderPayment (3)(4)\n2025 Tender Offer\n4.417% Senior Notes due 2025\n49271VAH3\n565122AD0\nU56495AD3\n$1,000,000,000\n$400,000,000\n1\n1.750% UST due March 15, 2025\nFIT1\n+43 bps\n$50\n2028 Tender Offer\n4.597% Senior Notes due 2028\n49271VAF7\n$2,000,000,000\n$600,000,000\n1\n2.500% UST due March 31, 2027\nFIT1\n+85 bps\n$50\nLong Dated Tender Offers\n5.085% Senior Notes due 2048\n49271VAD2\n565122AG3\nU56495AF8\n$750,000,000\n$600,000,000\n1\n1.875% UST due November 15, 2051\nFIT1\n+153 bps\n$50\n4.985% Senior Notes due 2038\n49271VAC4\n$500,000,000\n2\n2.375% UST due February 15, 2042\nFIT1\n+128 bps\n$50\n4.500% Senior Notes due 2045\n26138EAT6\n$550,000,000\n3\n2.375% UST due February 15, 2042\nFIT1\n+148 bps\n$50\n4.420% Senior Notes due 2046\n26138EAY5\n$400,000,000\n4\n1.875% UST due November 15, 2051\nFIT1\n+150 bps\n$50\n(1) $400,000,000 represents the maximum aggregate purchase price payable, excluding accrued and unpaid interest (the \"2025 Maximum Amount\"), in respect of the 4.417% Senior Notes due 2025 that may be purchased in the 2025 Tender Offer. $600,000,000 represents the maximum aggregate purchase price payable, excluding accrued and unpaid interest (the \"2028 Maximum Amount\"), in respect of the 4.597% Senior Notes due 2028 that may be purchased in the 2028 Tender Offer. $600,000,000 represents the maximum aggregate purchase price payable, 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\"), in respect of the 5.085% Senior Notes due 2048, the 4.985% Senior Notes due 2038, the 4.500% Senior Notes due 2045 and the 4.420% Senior Notes due 2046 that may be purchased in the Long Dated Tender Offers.\n(2) Subject to...