Starbucks Enters New $3.0 Billion Credit Agreement

Details

The new agreement is a $3.0 billion unsecured, revolving credit facility, scheduled to mature on June 13, 2030. Starbucks may request an increase in the aggregate commitments by up to $1.0 billion under certain conditions. The agreement includes interest rate calculations based on Term SOFR and the Base Rate, as well as compliance with certain covenants. The old Credit Agreement, dated September 16, 2021, was terminated in connection with the new agreement. A copy of the new Credit Agreement is filed as Exhibit 10.1.

Items reported

Exhibits (1)

About Starbucks Corporation

Starbucks Corporation is a renowned global leader in the coffeehouse industry, offering a wide array of beverages including coffee, tea, and other specialty drinks, alongside complementary food items. The company operates retail locations worldwide, providing customers with a unique coffeehouse experience characterized by quality products and a welcoming atmosphere. Beyond its physical stores, Starbucks significantly impacts the coffee production industry, promoting sustainable sourcing and ethical supply chain practices. Its operations extend into grocery and convenience stores through products like ready-to-drink beverages and consumer-packaged coffee. Founded in 1971 and headquartered in Seattle, Washington, Starbucks Corporation is pivotal in shaping consumer beverage preferences and enhancing global coffee culture, influencing both retail and wholesale sectors.