On March 7, 2024, Keurig Dr Pepper issued a total of $3.0 billion in senior unsecured notes, consisting of Floating Rate Senior Notes due 2027 and fixed-rate notes across 4 maturities.

1. 01

   On March 7, 2024, Keurig Dr Pepper issued a total of $3.0 billion in senior unsecured notes, consisting of Floating Rate Senior Notes due 2027 and fixed-rate notes across 4 maturities.

2. 02

   The company issued Floating Rate Notes of $350.0 million, 5.100% 2027 Notes of $750.0 million, 5.050% 2029 Notes of $750.0 million, 5.200% 2031 Notes of $500.0 million, and 5.300% 2034 Notes of $650.0 million.

3. 03

   The company said the Floating Rate Notes bear interest at a rate equal to compounded secured overnight financing rate, reset quarterly, plus 0.880%, and mature on March 15, 2027. Interest on the fixed-rate notes is payable on March 15 and September 15 each year, and the notes mature in 2027, 2029, 2031 and March 15, 2034.

4. 04

   The company said it may redeem the fixed-rate notes in whole or in part at the redemption prices set forth in the indenture, but it may not redeem the Floating Rate Notes before maturity. If a change of control triggering event occurs, the company must offer holders the chance to sell their notes at 101% of principal plus accrued and unpaid interest.

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Original filing

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