By Susanna Moon
Chicago, March 14 – Starbucks Corp. sold ¥85 billion of 0.372% seven-year senior notes at par, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/A) priced at 20 basis points over the mid-swap rate.
The joint bookrunning managers are Morgan Stanley & Co. International plc and MUFG Securities EMEA plc.
Starbucks plans to allocate the sale proceeds to “new and existing investments made in whole or in part in one or more eligible sustainability projects,” according to a 424B5 filing with the Securities and Exchange Commission.
Starbucks is a Seattle-based specialty coffee retailer.
| Issuer: | Starbucks Corp.
|
| Amount: | ¥85 billion
|
| Maturity: | March 15, 2024
|
| Securities: | Senior notes
|
| Bookrunners: | Morgan Stanley & Co. International plc and MUFG Securities EMEA plc
|
| Coupon: | 0.372%
|
| Price: | Par
|
| Yield: | 0.372%
|
| Spread: | 20 bps over mid-swaps
|
| Call option: | At par beginning Dec. 15, 2023
|
| Change-of-control put: | 101%
|
| Trade date: | March 10
|
| Settlement date: | March 17
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
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