Starbucks Corporation (NASDAQ:SBUX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Revolving Credit Facilities
Please see the discussion set forth in Item 1.01, “Entry into a Material Definitive Agreement,” of this Form 8-K under the caption “Revolving Credit Facilities,” which discussion is incorporated herein by reference.
Commercial Paper Program
On October27, 2017, the Company increased the size of its commercial paper program (the “Program”) to permit the issuance of commercial paper notes (the “Notes”) in an aggregate principal amount not to exceed $3.0billion at any time outstanding. Prior to this increase, the Program permitted the Company to issue Notes in an aggregate principal amount not to exceed $1.0billion at any time outstanding. A national bank continues to act as the issuing and paying agent under the Program to the terms of an issuing and paying agent agreement. Each of the commercial paper dealers will continue to act as a dealer under the Program (each, a “Dealer” and, collectively, the “Dealers”) to the terms and conditions of a commercial paper dealer agreement previously entered into between the Company and each Dealer (each, a “Dealer Agreement”). The Dealer Agreements are substantially identical in all material respects except as to the parties thereto. The form of Dealer Agreement was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on July29, 2016.
The Program is backstopped by the Credit Agreements that were entered into on October25, 2017. If at any time funds are not available on favorable terms under the Program, the Company may utilize the Credit Agreements for funding.Amounts available under the Program may be reborrowed.
The other terms and conditions of the Program remain as previously described in the Company’s Current Report on Form 8-K filed with the SEC on July29, 2016.
The Notes have not been and will not be registered under the Securities Act or state securities laws, and may not be offered and sold except in compliance with an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. The information contained in this Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to purchase any securities, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Item 1.01 Financial Statements and Exhibits.
(d) Exhibits:
| ExhibitNo. | Description |
| 10.1 | Credit Agreement, dated October 25, 2017, among Starbucks Corporation, Bank of America, N.A., in its capacity as Administrative Agent, Swing Line Lender and L/C Issuer, Wells Fargo Bank, N.A., Citibank, N.A. and U.S. Bank National Association, as L/C Issuers, and the other Lenders from time to time a party thereto. |
| 10.2 | 364-Day Credit Agreement, dated October 25, 2017, among Starbucks Corporation, Bank of America, N.A., in its capacity as Administrative Agent and Swing Line Lender, and the other Lenders from time to time a party thereto. |
STARBUCKS CORP ExhibitEX-10.1 2 d478673dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 CUSIP Numbers: Deal: 85524LAJ0 Facility: 85524LAK7 CREDIT AGREEMENT Dated as of October 25,…To view the full exhibit click here
About Starbucks Corporation (NASDAQ:SBUX)
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development. The Company’s Americas, CAP, and EMEA segments include both company-operated and licensed stores. Its Channel Development segment includes roasted whole bean and ground coffees, Tazo teas, Starbucks- and Tazo-branded single-serve products, a range of ready-to-drink beverages, such as Frappuccino, Starbucks Doubleshot and Starbucks Refreshers beverages and other branded products sold across the world through channels, such as grocery stores, warehouse clubs, specialty retailers, convenience stores and the United States foodservice accounts.
