New Issue: Starbucks sells $500 million 2.1% five-year notes at 75 bps spread

By Cristal Cody

Tupelo, Miss., Feb. 1 – Starbucks Corp. sold $500 million of 2.1% five-year senior notes with a spread of 75 basis points over Treasuries on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes (A2/A-/A) priced at 99.943 to yield 2.112%.

Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

Starbucks is a Seattle-based specialty coffee retailer.

Issuer:	Starbucks Corp.
Amount:	$500 million
Maturity:	Feb. 4, 2021
Securities:	Senior notes
Bookrunners:	Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
Co-managers:	Citigroup Global Markets Inc., BofA Merrill Lynch, Wells Fargo Securities, LLC, U.S. Bancorp Investments, Inc., Scotia Capital (USA) Inc., HSBC Securities (USA) Inc., Rabo Securities USA, Inc., Blaylock Beal Van, LLC, Loop Capital Markets LLC, Williams Capital Group, LP.
Coupon:	2.1%
Price:	99.943
Yield:	2.112%
Spread:	Treasuries plus 75 bps
Make-whole call:	Before Jan. 4, 2021 at Treasuries plus 15 bps; on or after Jan. 4, 2021 at par
Put option:	101%
Trade date:	Feb. 1
Settlement date:	Feb. 4
Ratings:	Moody’s: A2
	Standard & Poor’s: A-
	Fitch: A
Distribution:	SEC registered

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