Starbucks Corporation (NASDAQ:SBUX) today announced that it has priced an underwritten public offering of senior notes. The company plans to use the net proceeds from the offering of $400 million of 0.875% Senior Notes due 2016 and $350 million of 2.000% Senior Notes due 2018 to fund a portion of the payment required by the previously announced arbitration award in the Kraft litigation matter. The remaining net proceeds from this offering will be used for general corporate purposes, which may include business expansion, payment of cash dividends on Starbucks common stock, the repurchase of common stock under the company's ongoing share repurchase program, or financing of possible acquisitions. The offering of the notes is expected to close on December 5, 2013, subject to customary closing conditions.
BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are serving as the joint book-running managers of the offering. The offering is being made under an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”) on September 3, 2013. The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from:
|BofA Merrill Lynch||J.P. Morgan||Morgan Stanley|
|firstname.lastname@example.org||383 Madison, 3 rd Flooremail@example.com|
|800-294-1322||New York, NY 10179||866-718-1649|
An electronic copy of the registration statement and prospectus supplement, together with the prospectus, is available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell nor a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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