Starbucks in $2 Billion Notes Offering

May 13, 2019

Cleary Gottlieb represented Starbucks Corp. (Starbucks) in an SEC-registered offering of $1 billion aggregate principal amount of 3.55% senior notes due 2029 to be used for general corporate purposes and $1 billion aggregate principal amount of 4.45% senior notes due 2049 to be used for various sustainability initiatives.

The offering was underwritten by a syndicate of investment banks led by Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, U.S. Bancorp Investments Inc., and Wells Fargo Securities LLC. The transaction priced on May 2, 2019, and closed on May 13, 2019.

Starbucks is the premier roaster and retailer of specialty coffee with operations in 78 markets around the world. As of March 31, 2019, it had more than 30,000 company-operated and licensed stores.