SEATTLE--(BUSINESS WIRE)--Jun. 1, 2015--
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 2.700% Senior
Notes due 2022 and $350 million of 4.300% Senior Notes due 2045 for
general corporate purposes, which are expected primarily to include the
redemption of the company’s outstanding 6.250% Senior Notes due 2017.
The net proceeds may also be used for 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 June 10, 2015, subject to customary closing
conditions.
BofA Merrill Lynch, Citigroup 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:
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 28, 2014, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150601006800/en/
Source: Starbucks Corporation
Starbucks Corporation
Investor Relations:
JoAnn
DeGrande, 206-318-7118
investorrelations@starbucks.com
or
Media:
Alisha
Damodaran, 206-318-7100
press@starbucks.com