Keurig Dr Pepper announces strategic refinancing

BURLINGTON, Mass. and PLANO, Texas, March 1, 2021 / PRNewswire / – Keurig Dr Pepper Inc. (NASDAQ: KDP) today announced the launch of a public offering of senior notes and the company’s intention to enter into a new 364-day revolving credit facility . The Company intends to use the net proceeds from the sale of the Notes to fund the repayment of certain outstanding senior unsecured notes and to fully repay and terminate its maturing term loan facility. in February 2023 and, in each case, to pay related premiums, accrued and unpaid interest and related fees and expenses. The remaining net proceeds, if any, will be used to fund the costs of the Offering and for other general corporate purposes.

Commenting on the ad, Keurig Dr Pepper CFO and President, International, Ozan Dokmecioglu, said: “Since the time of the merger almost three years ago, we have generated significant cash flow for KDP which has enabled us to get out of debt quickly. This strong performance also led to the recent upgrade of KDP’s outlook by Moody’s Investor Services. The strategic refinancing we are launching today will further improve our liquidity profile and strengthen our balance sheet, supporting our achievement of the three-year merger targets we established in 2018 and reiterated last week. “

BofA Securities, Goldman Sachs & Co. LLC, JP Morgan and SMBC Nikko Securities America, Inc. will act as co-book managers for the Senior Notes offering, which is being made only by way of prospectus and a 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 the offering to which this communication relates. Before investing, you should read the prospectus and the related prospectus supplement included in this registration statement and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies can be obtained from: BofA Securities, Inc., 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, phone: 1-800-294-1322 or by email at [email protected]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, New York State 10282, phone: 1-866-471-2526, fax: 212-902-9316 or by email at [email protected]; JP Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attn .: Investment Grade Syndicate Desk, phone: (212) 834-4533; and SMBC Nikko Securities America, Inc., 277 Park Avenue, New York, New York 10172, Attn: Debt Capital Markets, phone: 1-888-868-6856 or email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the Tickets in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to the registration or qualification under the securities laws of such jurisdiction.

About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual sales of more than $ 11 billion and nearly 27,000 employees. KDP holds leading positions in soft drinks, specialty coffees and teas, water, juices and juice drinks and blenders, and markets the No.1 single-serve coffee brewing system in the United States and Canada. The company’s portfolio of more than 125 brands owned, licensed and partnered is designed to meet virtually any consumer need, anytime, and includes Keurig®, Dr Pepper®, Green Mountain®, Dry Canada®, Snap®, Bai®, Mott’s®, HEART® and The Original Donut Shop®. Thanks to its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold drinks to almost any point of purchase for consumers. The Company is committed to sourcing, producing and distributing its drinks responsibly through its Drink well. Do good. corporate responsibility platform, including efforts around circular packaging, efficient use of natural resources, and supply chain sustainability.

Forward-looking statements
Certain statements contained in this document are “forward-looking statements” within the meaning of applicable securities laws and regulations. These statements are often, but not always, made using words or phrases such as “may”, “could”, “should”, “could”, “could”, “predict”, “possible”, “Believe”, “expect,” continue “,” will “,” anticipate “,” seek “,” estimate “,” intend “,” plan “and”, “or forward-looking nature . These forward-looking statements are based on the Company’s current beliefs regarding future events and the timing of this offering of notes. These forward-looking statements are subject to a number of risks and uncertainties, including prevailing market conditions, as well as other factors. All forward-looking statements are qualified in their entirety by reference to the factors discussed under “Risk Factors” in Part I, Section 1A of the Company’s Annual Report on Form 10-K for the year ended. December 31, 2020 and other documents filed by the Company with the SEC. Forward-looking statements represent the Company’s estimates and assumptions only as of the date on which they were made. The Company does not undertake any obligation to update forward-looking statements, and the estimates and assumptions associated with them, after the date of this press release, except to the extent required by applicable law.

Contact information

Investors:
Tyson seely
(781) 418-3352
[email protected]

Steve Alexander
(972) 673-6769
[email protected]

Media:
Katie gilroy
(781) 418-3345
[email protected]

SOURCE Keurig Dr Pepper

Related links

http://www.keurigdrpepper.com