Monday 17 June 2024
  • La Cimbali

Keurig Dr Pepper announces strategic refinancing, offering

Company Commences a Public Offering of Senior Notes along with a concurrent series of Tender Offers

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BURLINGTON, Mass., and FRISCO, Texas, USA – Following the Company’s successful deleveraging over the past three years, Keurig Dr Pepper Inc. (NASDAQ: KDP) announced today a strategic refinancing intended to further strengthen its balance sheet and enhance its liquidity profile.

The strategic refinancing includes the commencement of a public offering of senior notes and a concurrent series of tender offers (the “Tender Offers”) to purchase for cash certain of KDP’s outstanding series of senior unsecured notes.

Keurig Dr Pepper intends to use the net proceeds from this offering, together with cash on hand, if necessary, to fund the purchase price and accrued and unpaid interest for the notes purchased in the Tender Offers and to redeem an outstanding series of senior unsecured notes.

This offering is not contingent on the consummation of the Tender Offers or the redemption. In the event that the Tender Offers and the redemption are not consummated, the Company intends to use the net proceeds from this offering for general corporate purposes, including working capital, acquisitions, retirement of debt and other business opportunities.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC will act as joint book-running managers for this notes offering.

The offering of the notes is being made only by means of a prospectus and related prospectus supplement. The Company has filed a registration statement (including the prospectus and related prospectus supplement) with the Securities and Exchange Commission (the “SEC”) for this offering to which this communication relates.

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Before you invest, you should read the prospectus and related prospectus supplement incorporated in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.

Alternatively, copies may be obtained from: BofA Securities, Inc., 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, telephone: 1-800-294-1322 or by email at dg.prospectus_requests @bofa.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attn: Investment Grade Syndicate Desk, telephone: 212-834-4533; and Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036, telephone: 1-800-718-1649.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these notes in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

CIMBALI

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