Keurig Dr Pepper Inc. Enters Material Definitive Agreement

TL;DR

KDP just signed a big deal, new financial obligation incoming.

AI Summary

On October 25, 2024, Keurig Dr Pepper Inc. entered into a material definitive agreement, creating a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event for the company.

Why It Matters

This filing indicates a new financial commitment or obligation for Keurig Dr Pepper Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The nature and terms of the financial obligation are not detailed, creating uncertainty about its potential impact.

Key Players & Entities

• Keurig Dr Pepper Inc. (company) — Registrant
• October 25, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $1.25 b — ity in an aggregate principal amount of $1.25 billion, available in a first tranche of
• $1 billion — illion, available in a first tranche of $1 billion and second tranche of $250 million. The
• $250 million — che of $1 billion and second tranche of $250 million. The proceeds of the Term Loan Agreemen

Filing Documents

• kdp-20241025.htm (8-K) — 28KB
• kdp-20241025_g1.jpg (GRAPHIC) — 1152KB
• 0001418135-24-000092.txt ( ) — 2836KB
• kdp-20241025.xsd (EX-101.SCH) — 2KB
• kdp-20241025_lab.xml (EX-101.LAB) — 21KB
• kdp-20241025_pre.xml (EX-101.PRE) — 12KB
• kdp-20241025_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On October 25, 2024, Keurig Dr Pepper Inc. (the "Company") entered into a new term loan agreement (the "Term Loan Agreement") among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent. The Term Loan Agreement provides for a delayed draw term loan facility in an aggregate principal amount of $1.25 billion, available in a first tranche of $1 billion and second tranche of $250 million. The proceeds of the Term Loan Agreement, if drawn, may be used by the Company for general corporate purposes, including to finance acquisitions (including the payment of any fees and expenses incurred in connection therewith). Borrowings under the Term Loan Agreement are unsecured. Borrowings under the first tranche and second tranche must be repaid on April 25, 2026, and February 23, 2027, respectively. The interest rate applicable to borrowings under the Term Loan Agreement ranges from (i) a rate equal to SOFR plus a spread adjustment of 0.100% and a margin of 0.875% to 1.500% to (ii) a rate equal to a base rate plus a margin of 0.000% to 0.500%, in each case depending on the credit rating of the Company as determined by Moody's and S&P. The Term Loan Agreement also contains (i) certain customary affirmative covenants, including those that impose certain reporting and/or performance obligations on the Company and its subsidiaries, (ii) certain customary negative covenants that generally limit, subject to various exceptions, the Company and its subsidiaries from taking certain actions, including, without limitation, incurring liens, consummating certain fundamental changes and entering into transactions with affiliates, (iii) a financial covenant in the form of an interest coverage ratio and (iv) customary events of default (including a change of control) for financings of this type. The foregoing summary of the Term Loan Agreement does not purport to be complete and is subject to, and qual

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. KEURIG DR PEPPER INC. Dated: October 25, 2024 By: /s/ Anthony Shoemaker Name: Anthony Shoemaker Title: Chief Legal Officer, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR