On May 5, 2025, Keurig Dr Pepper issued a total of $2.0 billion in senior unsecured notes, consisting of Floating Rate Senior Notes due 2026 and fixed-rate senior notes due 2028, 2030 and 2035, with $500.0 million for each fixed-rate series.

1. 01

   On May 5, 2025, Keurig Dr Pepper issued a total of $2.0 billion in senior unsecured notes, consisting of Floating Rate Senior Notes due 2026 and fixed-rate senior notes due 2028, 2030 and 2035, with $500.0 million for each fixed-rate series.

2. 02

   The company said the floating-rate notes bear interest at compounded secured overnight financing rate plus 0.580%, reset quarterly, and the fixed-rate notes carry rates of 4.350% due 2028, 4.600% due 2030 and 5.150% due 2035.

3. 03

   JAB BevCo B.V. completed the registered public secondary offering of 75,000,000 shares of common stock on May 5, 2025, the 2nd such offering, with total proceeds to the selling stockholder of about $2.5 billion. The company said it did not receive any proceeds from the sale.

4. 04

   Keurig Dr Pepper said it may redeem the fixed-rate notes in whole or in part at the redemption prices set in the indenture, but the floating-rate notes cannot be redeemed 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, the company said.

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Original filing

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