Starbucks Prices $500 Million of Senior Notes
February 01 2016 - 04:05PM
Business Wire
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 $500 million of
2.100% Senior Notes due 2021 for general corporate purposes, which
may include repurchases of Starbucks common stock under the
company’s ongoing share repurchase program, business expansion,
payment of cash dividends on Starbucks common stock, or the
financing of possible acquisitions. The offering of the senior
notes is expected to close on February 4, 2016, subject to
customary closing conditions.
Goldman Sachs, 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 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:
Goldman
Sachsprospectus-ny@ny.email.gs.com866-718-1649
J.P. Morgan212-834-4533
Morgan
Stanleyprospectus@morganstanley.com866-471-2526
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.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with stores around the globe, the company is the premier roaster
and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in
our stores or online at news.starbucks.com or
www.starbucks.com.
Forward-Looking
Statements
Certain statements contained in this release are
“forward-looking statements” within the meaning of applicable
securities laws and regulations, including statements about the
expected closing of a public offering or senior notes and the use
of proceeds of such offering. Such forward-looking statements are
based on current management expectations and satisfactions of
certain conditions that are subject to various risks and
uncertainties, including market conditions and those risks detailed
in the Company’s filings with the Securities and Exchange
Commission, including the “Risk Factors” section of the Starbucks
Annual Report on Form 10-K for the fiscal year ended September 27,
2015, and the prospectus and prospectus supplement delivered in
connection with the public offering of senior notes discussed in
this release. The company assumes no obligation to update any of
these forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201006277/en/
StarbucksInvestor Relations:Durga Doraisamy,
206-318-7118investorrelations@starbucks.comorMedia:Alisha
Damodaran, 206-318-7100press@starbucks.com
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