Keurig unit eyes $8 billion of senior notes in connection with merger

By Devika Patel

Knoxville, Tenn., May 14 – Keurig Green Mountain Inc. subsidiary Maple Escrow Subsidiary, Inc. plans to price an $8 billion offering of senior notes, according to a press release.

Settlement is expected in July.

Proceeds from the Rule 144A offering will be used with borrowings under new credit facilities and cash on hand for a special cash dividend, which will be paid to Dr Pepper Snapple Group, Inc. shareholders in connection with the previously announced combination of Maple and Dr Pepper Snapple and to refinance Dr Pepper Snapple’s existing revolving credit facility and Maple’s existing credit facility.

If the merger is not completed, the notes will be redeemed at 101.

Keurig is a Waterbury, Vt.-based personal beverage system company.

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