On March 26, 2026, Keurig Dr Pepper Inc. (the "Company") announced the successful completion of its previously announced private offerings of €3.0 billion euro-denominated notes and $2.55 billion USD-denominated notes. The euro-denominated notes consist of various tranches, including €600 million of 3.495% notes due 2028, €800 million of 3.881% notes due 2030, €800 million of 4.224% notes due 2032, and €800 million of 4.728% notes due 2035. The USD-denominated notes include $550 million of 4.750% notes due 2029, $600 million of 5.050% notes due 2031, $700 million of 5.700% notes due 2036, and $700 million of 6.625% notes due 2056. The proceeds from these offerings will be utilized to fund the acquisition of JDE Peet's N.V. and cover related fees and expenses. Notably, the notes are subject to a special mandatory redemption if the acquisition is not completed by February 24, 2027. The interest rates on the notes are subject to a step-up provision based on credit rating downgrades, which could increase the interest payable by up to 2.00%. This strategic move is expected to enhance the Company's market position in the beverage sector, particularly in coffee, as it integrates JDE Peet's operations into its business model. The completion of these offerings reflects the Company's commitment to expanding its portfolio and leveraging financial instruments to support growth initiatives.

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