Starbucks in $1.75 Billion Offering

Cleary Gottlieb represented Starbucks Corporation (Starbucks) in an SEC-registered offering of $750 million aggregate principal amount of 4.5% senior notes due 2028, $500 million aggregate principal amount of 4.8% senior notes due 2030, and $500 million aggregate principal amount of 5.4% senior notes due 2035.

The offering was underwritten by a syndicate of investment banks led by BofA Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc., and Wells Fargo Securities LLC. The transaction priced on May 6, 2025, and closed on May 8, 2025.

Starbucks is the premier roaster, marketer, and retailer of specialty coffee with operations in 88 markets worldwide. As of March 30, 2025, it had more than 40,700 company-operated and licensed stores.