Starbucks in $3 Billion Offering

May 7, 2020

Cleary Gottlieb represented Starbucks Corp. (Starbucks) in an SEC-registered offering of $500 million aggregate principal amount of 1.3% senior notes due 2022, $1.25 billion aggregate principal amount of 2.55% senior notes due 2030, and $1.25 billion aggregate principal amount of 3.5% senior notes due 2050.

The offering was underwritten by a syndicate of investment banks led by BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC. The transaction priced on May 4, 2020, and closed on May 7, 2020.

Starbucks is the premier roaster and retailer of specialty coffee with operations in 82 markets around the world. As of March 29, 2020, it had more than 32,000 company-operated and licensed stores.