Keurig Dr Pepper plans senior notes in three parts to fund tender offer

By Devika Patel

Knoxville, Tenn., April 7 – Keurig Dr Pepper Inc. plans to price senior notes in three tranches, according to a 424B3 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities, Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Computershare Trust Co., NA is the trustee.

Skadden, Arps, Slate, Meagher & Flom LLP is advising the issuer. Weil, Gotshal & Manges LLP is working as counsel for the bookrunners.

Proceeds will be used for tender offers to purchase for cash up to $400 million of its 4.417% senior notes due 2025; up to $600 million of its 4.597% senior notes due 2028; and up to $600 million of its 4.985% senior notes due 2038, its 4.5% senior notes due 2045, its 4.42% senior notes due 2046 and its 5.085% senior notes due 2048.

The beverage conglomerate is based in Burlington, Mass.

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