Summary by Moomoo AI
Starbucks Corporation has announced the issuance of $2 billion in senior notes, divided into three tranches with varying interest rates and maturity dates. The first tranche of $1 billion carries a 4.850% interest rate and is due in 2027, the second tranche of $500 million carries a 4.900% interest rate and is due in 2031, and the third tranche of $500 million carries a 5.000% interest rate and is due in 2034. The notes are unsecured and rank equally with Starbucks' other senior unsecured debt. Interest on the 2027 notes will be paid semiannually starting August 8, 2024, while interest on the 2031 and 2034 notes will begin on August 15, 2024. Starbucks may redeem the notes at any time prior to maturity at specified redemption prices. The offering was managed by a consortium of banks, including Goldman Sachs & Co. LLC, J.P. Morgan, US Bancorp, and Wells Fargo Securities as joint book-running managers. The date of the prospectus supplement is February 5, 2024.
