{"success":true,"data":{"pressRelease":{"id":"19609","rtpr_id":"nBw5DyB0ja","ticker":"SBUX","exchange":"NASDAQ","all_tickers":["SBUX"],"title":"Starbucks Corporation Commences Cash Tender Offers for Eight Series of Notes","author":"Business Wire","published_at":"2026-05-04T20:02:00.141Z","article_body":"Starbucks Corporation Commences Cash Tender Offers for Eight Series of Notes\n\nStarbucks Corporation (Nasdaq: SBUX) (“Starbucks,” “we,” “us” or\nthe “Company”) today announced the commencement of tender offers to\npurchase (each offer a “Tender Offer” and collectively, the “Tender\nOffers”), subject to the terms and conditions of the Tender Offers described\nthe Offer to Purchase dated May 4, 2026 (the “Offer to Purchase”), in the\norder of priority set forth in the table below (the “Acceptance Priority\nLevel”) for an Aggregate Purchase Price of up to $1.1 billion, as may be\nincreased or decreased by the Company in accordance with applicable law (the\n“Aggregate Cap”), in cash from each registered holder of the applicable\nseries of Notes (each, a “Holder” and, collectively, the “Holders”),\nconsisting of:\n (i) up to $500 million Aggregate Purchase Price (the “Pool 1 Maximum Amount”) \n of its 4.800% Senior Notes due 2030, its 4.500% Senior Notes due 2028 and its \n 4.000% Senior Notes due 2028 (collectively, the “Pool 1 Notes”) in the \n priorities set forth in the table below (the “Pool 1 Tender Offers”), and \n (ii) up to $600 million Aggregate Purchase Price (the “Pool 2 Maximum Amount” \n and, together with the Pool 1 Maximum Amount, the “Maximum Amounts”) of \n its 4.500% Senior Notes due 2048, its 5.400% Senior Notes due 2035, its 5.000% \n Senior Notes due 2034, its 4.900% Senior Notes due 2031 and its 4.800% Senior \n Notes due 2033 (collectively, the “Pool 2 Notes” and, the Pool 2 Notes \n together with the Pool 1 Notes, the “Notes”) in the priorities set forth \n in the table below (collectively, the “Pool 2 Tender Offers”). \n\n\nThe “Aggregate Purchase Price” in respect of any series of Notes is the\naggregate amount of Total Consideration or Late Tender Offer Consideration, as\napplicable, that is paid for Notes of that series.\n\nThe following table sets forth certain terms of the Tender Offers:\n   Title of CUSIP/ISIN Aggregate Maturity Par Call Maximum Acceptance Tender Sub U.S. Bloomberg Fixed Early \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurity \nPrincipal \nDate \nDate((1)) \nAmount((2)) \nPriority \nCap((4)) \nTreasury \nReference \nSpread \nTender \n \n \n \n \n \n \n \nAmount \nLevel((3)) \nReference \nPage \nPayment \n \n \n \n \n \nOutstanding \nSecurity \n((5)(6)) \n Pool 1 4.800% Senior Notes due 2030 855244BL2/ $500,000,000 May 15, April 15, $500 1 —— 3.875% UST due April 30, 2031 FIT 1 +25 bps $30 \n \n \n \n \n \n \n \nTender \nUS855244BL23 \n2030 \n2030 \nmillion \n \n \n \nOffers \n 4.500% Senior Notes due 2028 855244BN8/ $750,000,000 May 15, April 15, 2 —— 3.750% UST due April 30, 2028 FIT 1 +25 bps $30 \n \n \n \n \n \nUS855244BN88 \n2028 \n2028 \n 4.000% Senior Notes due 2028 855244AR0/ $750,000,000 November 15, August 15, 3 —— 3.750% UST due April 30, 2028 FIT 1 +25 bps $30 \n \n \n \n \n \nUS855244AR02 \n2028 \n2028 \n Pool 2 4.500% Senior Notes due 2048 855244AS8/ $1,000,000,000 November 15, May 15, $600 1 $200,000,000 4.625% UST due February 15, 2046 FIT 1 +75 bps $30 \n \n \n \n \n \n \n \nTender \nUS855244AS84 \n2048 \n2048 \nmillion \n \n \n \nOffers \n 5.400% Senior Notes due 2035 855244BM0/ $500,000,000 May 15, February 15, 2 —— 4.125% UST due February 15, 2036 FIT 1 +40 bps $30 \n \n \n \n \n \nUS855244BM06 \n2035 \n2035 \n 5.000% Senior Notes due 2034 855244BJ7/ $500,000,000 February 15, November 15, 3 —— 4.125% UST due February 15, 2036 FIT 1 +30 bps $30 \n \n \n \n \n \nUS855244BJ76 \n2034 \n2033 \n 4.900% Senior Notes due 2031 855244BH1/ $500,000,000 February 15, December 15, 4 —— 3.875% UST due April 30, 2031 FIT 1 +35 bps $30 \n \n \n \n \n \nUS855244BH11 \n2031 \n2030 \n 4.800% Senior Notes due 2033 855244BF5/ $500,000,000 February 15, November 15, 5 —— 4.125% UST due February 15, 2036 FIT 1 +20 bps $30 \n \n \n \n \n \nUS855244BF54 \n2033 \n2032 \n\n (1) If the Repurchase Yield (as defined below) as determined in accordance with \n the Offer to Purchase is less than the contractual annual rate of interest on \n a particular series of Notes, then the calculation will assume that the \n payments of such Notes are through the par call date of such Notes; if the \n Repurchase Yield as determined in accordance with the Offer to Purchase is \n higher than or equal to the contractual annual rate of interest on a \n particular series of Notes, then the calculation will assume that the payments \n of such Notes are through the maturity date of the Notes of such series. \n (2) The Pool 1 Maximum Amount of $500 million represents the maximum Aggregate \n Purchase Price of Pool 1 Notes that the Company is offering to purchase in the \n Pool 1 Tender Offers. The Pool 2 Maximum Amount of $600 million represents the \n maximum Aggregate Purchase Price of Pool 2 Notes that the Company is offering \n to purchase in the Pool 2 Tender Offers. \n (3) Subject to the Aggregate Cap, the Maximum Amounts, the Tender Sub Cap (as \n defined below) and proration, if applicable, the aggregate principal amount of \n each series of Notes that is purchased in the Tender Offer for that series \n will be determined in accordance with the applicable Acceptance Priority Level \n (in numerical priority order) specified in this column. \n (4) The Tender Offer with respect to the 4.500% Senior Notes due 2048 (the “2048 \n Notes”) will be subject to an aggregate principal amount sublimit of $200 \n million (the “Tender Sub Cap”). \n (5) Per $1,000 principal amount of Notes validly tendered prior to or at the Early \n Tender Date and accepted for purchase. \n (6) The Total Consideration (as defined below) for each series of Notes validly \n tendered prior to or at the Early Tender Date and accepted for purchase is \n calculated using the applicable Fixed Spread (as defined below) and includes \n the applicable Early Tender Payment (as defined below), which does not \n constitute an additional or increased payment. The Total Consideration for \n each series of Notes does not include the applicable Accrued Interest, which \n will be payable in addition to the applicable Total Consideration. \n\n\nThe Tender Offers will expire at 5:00 p.m. Eastern Time on June 2, 2026 or any\nother time and date to which the Company extends the applicable Tender Offer\n(such time and date as it may be extended with respect to a Tender Offer, the\napplicable “Expiration Date”) unless earlier terminated. Holders must\nvalidly tender their Notes prior to or at 5:00 p.m. Eastern Time on May 15,\n2026 (such time and date as it may be extended with respect to a Tender Offer,\nthe applicable “Early Tender Date”) to be eligible to receive the\napplicable Total Consideration plus Accrued Interest (each as defined below).\nIf Holders validly tender their Notes after the applicable Early Tender Date\nbut prior to or at the applicable Expiration Date they will only be eligible\nto receive the applicable Late Tender Offer Consideration (as defined below)\nplus Accrued Interest (as defined below) but not the Early Tender Payment (as\ndefined below). Tenders of Notes may be withdrawn prior to or at, but not\nafter, 5:00 p.m. Eastern Time, on May 15, 2026 (such time and date, as it may\nbe extended with respect to a Tender Offer, the applicable “Withdrawal\nDeadline”). Withdrawal rights with respect to the Notes will terminate at\nthe Withdrawal Deadline, except in certain limited circumstances where\nadditional withdrawal rights are required by law (as determined by the\nCompany).\n\nSubject to the Aggregate Cap, the Maximum Amounts, the Tender Sub Cap for the\n2048 Notes, in each case, as set forth in the table above, and proration, if\napplicable:\n (i) all Notes of a series with a higher Acceptance Priority Level that are validly \n tendered prior to or at the Early Tender Date will be accepted before any \n Notes of a series with a lower Acceptance Priority Level that are validly \n tendered prior to or at the Early Tender Date are accepted, and \n (ii) all Notes of a series with a higher Acceptance Priority Level that are validly \n tendered after the Early Tender Date will be accepted before any Notes of a \n series with a lower Acceptance Priority Level that are validly tendered after \n the Early Tender Date are accepted. \n\n\nHowever, Notes validly tendered prior to or at the Early Tender Date will be\naccepted for purchase in priority to Notes validly tendered after the Early\nTender Date, even if such Notes validly tendered after the Early Tender Date\nhave a higher Acceptance Priority Level than Notes validly tendered prior to\nor at the Early Tender Date. If the amount of validly tendered Pool 1 Notes of\nany given series, taken together with the amount of validly tendered Pool 1\nNotes of a series with a higher Acceptance Priority Level, would have an\nAggregate Purchase Price that exceeds the Pool 1 Maximum Amount, the amount of\nPool 1 Notes of such series that is purchased will be determined on a prorated\nbasis as described in the Offer to Purchase. If the amount of validly tendered\nPool 2 Notes of any given series, taken together with the amount of validly\ntendered Pool 2 Notes of a series with a higher Acceptance Priority Level,\nwould have an Aggregate Purchase Price that exceeds the Pool 2 Maximum Amount,\nthe amount of Pool 2 Notes of such series that is purchased will be determined\non a prorated basis as further described in the Offer to Purchase. If the\namount of validly tendered 2048 Notes would have an aggregate principal amount\nthat exceeds the Tender Sub Cap, the amount of 2048 Notes that is purchased\nwill be determined on a prorated basis as described in the Offer to Purchase.\nThe Company reserves the right, but is under no obligation, to increase,\ndecrease or eliminate the Tender Sub Cap at any time, including on or after\nthe Price Determination Date, and may do so without extending the applicable\nWithdrawal Deadline, subject to applicable law. If the Aggregate Cap is\nreached, a Tender Offer is fully subscribed up to the applicable Maximum\nAmount or the Tender Sub Cap, if applicable, is reached, as of the applicable\nEarly Tender Date, Holders who validly tender their Pool 1 Notes, Pool 2 Notes\nor 2048 Notes, as applicable, after the applicable Early Tender Date, but\nprior to or at the applicable Expiration Date, will not have any of their Pool\n1 Notes, Pool 2 Notes or 2048 Notes, as applicable, accepted for purchase.\n\nThe highest Acceptance Priority Level for the Pool 1 Tender Offers is 1, and\nthe lowest Acceptance Priority Level for the Pool 1 Tender Offers is 3. The\nhighest Acceptance Priority Level for the Pool 2 Tender Offers is 1, and the\nlowest Acceptance Priority Level for the Pool 2 Tender Offers is 5.\n\nThe applicable consideration (the “Total Consideration”) offered per\n$1,000 principal amount of each series of Notes validly tendered and not\nvalidly withdrawn and accepted for purchase pursuant to the applicable Tender\nOffer will be determined in the manner described in the Offer to Purchase by\nreference to the applicable fixed spread for such Notes (the “Fixed\nSpread”) specified in the table above plus the applicable yield (the\n“Reference Yield”) based on the bid-side price of the applicable U.S.\nTreasury Reference Security specified in the table above (as applicable to\neach series of Notes, the “Reference Security”) as displayed on the\napplicable Bloomberg Reference Page specified in the table above (the\n“Reference Page”) at 10:00 a.m., Eastern Time, on the Business Day (as\ndefined below) immediately following the applicable Early Tender Date, as such\ndate and time may be extended, referred to as the “Price Determination\nDate.” The Company expects that the Price Determination Date will be May 18,\n2026. The sum of the Fixed Spread and the Reference Yield is referred to as\nthe “Repurchase Yield.” “Business Day” means any day other than a\nSaturday, Sunday or federal holiday and consists of the time period from 12:01\na.m. through 5:00 p.m., Eastern time.\n\nHolders of any Notes that are validly tendered and not validly withdrawn prior\nto or at the applicable Early Tender Date and that are accepted for purchase\nwill receive the applicable Total Consideration. The Total Consideration, as\ncalculated using the Fixed Spread for each series of Notes set forth in the\ntable above, includes the Early Tender Payment, and the Early Tender Payment\ndoes not constitute additional or increased payment. Holders of any Notes that\nare validly tendered and not validly withdrawn after the applicable Early\nTender Date but prior to or at the applicable Expiration Date and that are\naccepted for purchase will receive the applicable Total Consideration minus an\namount in cash (the “Early Tender Payment”) equal to the applicable amount\nset forth in the table above under the heading “Early Tender Payment.” As\nused herein, the Total Consideration minus the Early Tender Payment is\nreferred to as the “Late Tender Offer Consideration.” No tenders will be\nvalid if submitted after the Expiration Date.\n\nIn addition to the Total Consideration or the Late Tender Offer Consideration,\nas applicable, all Holders of Notes accepted for purchase will also receive\naccrued and unpaid interest on Notes validly tendered, not validly withdrawn\nand accepted for purchase from the applicable last interest payment date up\nto, but not including, the applicable Settlement Date (“Accrued\nInterest”), payable on such Settlement Date.\n\nThe Tender Offers will expire on the applicable Expiration Date. Except as set\nforth below, payment for the Notes that are validly tendered prior to or at\nthe Expiration Date and that are accepted for purchase will be made on the\ndate referred to as the “Final Settlement Date.” The Final Settlement Date\nwill occur within two Business Days following the Expiration Date or as\npromptly as practicable thereafter, unless extended or earlier terminated with\nrespect to any series of Notes. It is anticipated that the Final Settlement\nDate, if applicable, will be June 4, 2026 (assuming the Expiration Date is on\nJune 2, 2026). The Company reserves the right, in its sole discretion, to make\npayment for Notes that are validly tendered prior to or at the Early Tender\nDate and that are accepted for purchase on the date referred to as the\n“Early Settlement Date.” Together, the Early Settlement Date and the Final\nSettlement Date are referred to as the “Settlement Dates.” The Early\nSettlement Date for the Notes, if applicable, will be a date following the\nEarly Tender Date and prior to the Expiration Date on which the conditions to\nthe satisfaction of the applicable Tender Offer are satisfied. If applicable,\nthe Early Settlement Date will occur within three Business Days following the\nEarly Tender Date or as promptly as practicable thereafter, unless extended or\nearlier terminated with respect to any series of Notes. It is anticipated that\nthe Early Settlement Date, if applicable, will be May 20, 2026 (assuming the\nEarly Tender Date is on May 15, 2026). Only Notes tendered prior to or at the\nEarly Tender Date will be eligible for purchase on the Early Settlement Date,\nif any.\n\nIf Holders validly tender their Notes prior to or at the applicable Withdrawal\nDeadline, they may validly withdraw their tendered Notes at any time prior to\nor at such Withdrawal Deadline. After such time, Holders may not withdraw\ntheir Notes except as may be required by law (as determined by the Company).\nThe Company does not intend to extend the Withdrawal Deadline or reinstate\nwithdrawal rights, subject to applicable law, in the case of any amendment or\nwaiver of conditions with respect to any Tender Offer. However, the Company,\nin its sole discretion, may extend a Withdrawal Deadline for any purpose. If a\ncustodian bank, broker, dealer, commercial bank, trust company or other\nnominee holds a Holder’s Notes, such nominee may have an earlier deadline or\ndeadlines for receiving instructions to tender or to withdraw tendered Notes.\n\nThe Tender Offers are subject to the satisfaction of certain conditions as set\nforth in the Offer to Purchase. The Company reserves the right, subject to\napplicable law, to (i) waive any and all conditions to any of the Tender\nOffers, (ii) extend or terminate any of the Tender Offers, (iii) increase or\ndecrease the Aggregate Cap, (iv) increase or decrease either of the Maximum\nAmounts, (v) increase or decrease the Tender Sub Cap or (vi) otherwise amend\nany of the Tender Offers in any respect. The Company may take any action\ndescribed in clauses (i) through (vi) above with respect to one or more Tender\nOffers without having to do so for all Tender Offers. In the case of clauses\n(i) through (vi) above, the Company does not intend to extend the Withdrawal\nDeadline or reinstate withdrawal rights, subject to applicable law. Holders\nshould refer to the Offer to Purchase for the complete terms and conditions\nfor the Tender Offers.\n\nThe Tender Offers are open to all Holders of the Notes.\n\nThe Company has retained (i) Morgan Stanley & Co. LLC, U.S. Bancorp\nInvestments, Inc. and Wells Fargo Securities, LLC as Lead Dealer Managers,\n(ii) BofA Securities, Citigroup Global Markets Inc., Scotia Capital (USA)\nInc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC as Co-Dealer\nManagers and (iii) D.F. King & Co., Inc. as the Tender and Information\nAgent, in each case, in connection with the Tender Offers. Any questions or\nrequests for assistance concerning the Tender Offers may be directed to (i)\nMorgan Stanley & Co. LLC at LMNY@morganstanley.com\n(mailto:LMNY@morganstanley.com) or by calling toll-free at (800) 624-1808 or\ncollect at (212) 761-1057, (ii) U.S. Bancorp Investments, Inc. at\nliabilitymanagement@usbank.com (mailto:liabilitymanagement@usbank.com) or by\ncalling toll-free at (800) 479-3441 or collect at (917) 558-2756 or (iii)\nWells Fargo Securities, LLC at liabilitymanagement@wellsfargo.com\n(mailto:liabilitymanagement@wellsfargo.com) or by calling toll-free at (866)\n309-6316 or collect at (704) 410-4759. Requests for additional copies of the\nOffer to Purchase or any other documents may be directed to D.F. King &\nCo., Inc. at SBUX@dfking.com (mailto:SBUX@dfking.com) or by calling (888)\n288-0951 (toll-free) or (646) 582-9168 (collect for banks and brokers).\n\nThe Company is making the Tender Offers only by, and pursuant to, the terms of\nthe Offer to Purchase. None of the Company or its affiliates, their respective\nboards of directors, officers, employees, agents or affiliates, the Dealer\nManagers, the Tender and Information Agent or the trustee with respect to any\nseries of Notes is making any recommendation as to whether Holders should\ntender any Notes in response to any of the Tender Offers, and neither the\nCompany nor any such other person has authorized any person to make any such\nrecommendation. Holders must make their own decision as to whether to tender\nany of their Notes, and, if so, the Aggregate Principal amount of such Notes\nto tender. The Tender Offers are not being made to holders of the Notes in any\njurisdiction in which the making or acceptance thereof would not be in\ncompliance with the securities, blue sky or other laws of such jurisdiction.\nIn any jurisdiction in which the securities laws or blue sky laws require the\nTender Offers to be made by a licensed broker or dealer, the Tender Offers\nwill be deemed to be made on behalf of the Company by the Dealer Managers or\none or more registered brokers or dealers that are licensed under the laws of\nsuch jurisdiction.\n\nThis press release does not constitute an offer to purchase securities or a\nsolicitation of an offer to sell any securities or an offer to sell or the\nsolicitation of an offer to purchase any securities nor does it constitute an\noffer or solicitation in any jurisdiction in which such offer or solicitation\nis unlawful.\n\nAbout Starbucks\n\nSince 1971, Starbucks Coffee Company has been committed to responsibly\nsourcing and roasting high-quality arabica coffee. Today, with a global\nfootprint of more than 41,000 company-operated and licensed coffeehouses and a\ngrowing presence in consumer-packaged goods, we are the world's premier\npurveyor of specialty coffee. Through our unwavering commitment to excellence\nand our guiding principles, we bring the unique Starbucks Experience to life\nfor every customer through every cup. To share in the experience, please visit\nus in our stores or online at about.starbucks.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fabout.starbucks.com%2F&esheet=54528557&newsitemid=20260504574503&lan=en-US&anchor=about.starbucks.com&index=1&md5=13bd052394153564f3a30c69643c557b)\nor www.starbucks.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.starbucks.com&esheet=54528557&newsitemid=20260504574503&lan=en-US&anchor=www.starbucks.com&index=2&md5=4f6e34ce16952009061d4a5fca880e7f)\n.\n\nForward-Looking Statements\n\nThis press release includes certain “forward-looking” statements within\nthe meaning of the Private Securities Litigation Reform Act of 1995 regarding\nfuture events and the potential future results of Starbucks Corporation\n(together with its subsidiaries) that are based on our current expectations,\nestimates, forecasts, and projections about, among other things, our business,\nour results of operations, the industry in which we operate, our economic and\nmarket outlook, and the beliefs and assumptions of our management.\nForward-looking statements can be identified by the fact that they do not\nrelate strictly to historical or current facts. All statements other than\nstatements of historical fact, including statements regarding guidance,\nindustry prospects, or future results of operations or financial position,\nmade in or incorporated by reference into this prospectus are forward-looking.\nWe use words such as “believes,” “continues,” “anticipates,”\n“forecasts,” “estimates,” “expects,” “future,” “plan,”\n“seeks” or words of similar meaning, or future or conditional verbs, such\nas “will,” “should,” “could,” “would,” “may,” “aims,”\n“intends,” or “projects” and similar expressions intended to identify\nforward-looking statements, although not all forward-looking statements\ncontain these identifying words. By their nature, forward-looking statements\ninvolve risks, uncertainties, and other factors (many beyond our control) that\ncould cause our actual results to differ materially from our historical\nexperience or from our current expectations or projections. Forward-looking\nstatements reflect the Company’s current expectations and are inherently\nuncertain. Although we believe we have been prudent in our plans and\nassumptions, no assurance can be given that any goal or plan set forth in\nforward-looking statements can or will be achieved, and readers are cautioned\nnot to place undue reliance on such statements which speak only as of the date\nthey are made. Although we undertake no obligation to revise or update any\nforward-looking statements, whether as a result of new information, future\nevents, or otherwise, except as required by law, readers are advised to\nconsult any additional disclosures we make in our Annual Reports on Form 10-K,\nQuarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the\nSEC.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260504574503/en/\n(https://www.businesswire.com/news/home/20260504574503/en/)\n\nFor Investors:\n\nCatherine Park\n\ninvestorrelations@starbucks.com (mailto:investorrelations@starbucks.com)\n\nFor Media:\n\nEmily Albright\n\npress@starbucks.com (mailto:press@starbucks.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw5DyB0ja","title":"Starbucks Corporation Commences Cash Tender Offers for Eight Series of Notes","author":"Business Wire","ticker":"SBUX","created":"2026-05-04T20:02:00.141Z","tickers":["SBUX"],"exchange":"NASDAQ","article_body":"Starbucks Corporation Commences Cash Tender Offers for Eight Series of Notes\n\nStarbucks Corporation (Nasdaq: SBUX) (“Starbucks,” “we,” “us” or\nthe “Company”) today announced the commencement of tender offers to\npurchase (each offer a “Tender Offer” and collectively, the “Tender\nOffers”), subject to the terms and conditions of the Tender Offers described\nthe Offer to Purchase dated May 4, 2026 (the “Offer to Purchase”), in the\norder of priority set forth in the table below (the “Acceptance Priority\nLevel”) for an Aggregate Purchase Price of up to $1.1 billion, as may be\nincreased or decreased by the Company in accordance with applicable law (the\n“Aggregate Cap”), in cash from each registered holder of the applicable\nseries of Notes (each, a “Holder” and, collectively, the “Holders”),\nconsisting of:\n (i) up to $500 million Aggregate Purchase Price (the “Pool 1 Maximum Amount”) \n of its 4.800% Senior Notes due 2030, its 4.500% Senior Notes due 2028 and its \n 4.000% Senior Notes due 2028 (collectively, the “Pool 1 Notes”) in the \n priorities set forth in the table below (the “Pool 1 Tender Offers”), and \n (ii) up to $600 million Aggregate Purchase Price (the “Pool 2 Maximum Amount” \n and, together with the Pool 1 Maximum Amount, the “Maximum Amounts”) of \n its 4.500% Senior Notes due 2048, its 5.400% Senior Notes due 2035, its 5.000% \n Senior Notes due 2034, its 4.900% Senior Notes due 2031 and its 4.800% Senior \n Notes due 2033 (collectively, the “Pool 2 Notes” and, the Pool 2 Notes \n together with the Pool 1 Notes, the “Notes”) in the priorities set forth \n in the table below (collectively, the “Pool 2 Tender Offers”). \n\n\nThe “Aggregate Purchase Price” in respect of any series of Notes is the\naggregate amount of Total Consideration or Late Tender Offer Consideration, as\napplicable, that is paid for Notes of that series.\n\nThe following table sets forth certain terms of the Tender Offers:\n   Title of CUSIP/ISIN Aggregate Maturity Par Call Maximum Acceptance Tender Sub U.S. Bloomberg Fixed Early \n \n \n \n \n \n \n \n \n \n \n \n \n \nSecurity \nPrincipal \nDate \nDate((1)) \nAmount((2)) \nPriority \nCap((4)) \nTreasury \nReference \nSpread \nTender \n \n \n \n \n \n \n \nAmount \nLevel((3)) \nReference \nPage \nPayment \n \n \n \n \n \nOutstanding \nSecurity \n((5)(6)) \n Pool 1 4.800% Senior Notes due 2030 855244BL2/ $500,000,000 May 15, April 15, $500 1 —— 3.875% UST due April 30, 2031 FIT 1 +25 bps $30 \n \n \n \n \n \n \n \nTender \nUS855244BL23 \n2030 \n2030 \nmillion \n \n \n \nOffers \n 4.500% Senior Notes due 2028 855244BN8/ $750,000,000 May 15, April 15, 2 —— 3.750% UST due April 30, 2028 FIT 1 +25 bps $30 \n \n \n \n \n \nUS855244BN88 \n2028 \n2028 \n 4.000% Senior Notes due 2028 855244AR0/ $750,000,000 November 15, August 15, 3 —— 3.750% UST due April 30, 2028 FIT 1 +25 bps $30 \n \n \n \n \n \nUS855244AR02 \n2028 \n2028 \n Pool 2 4.500% Senior Notes due 2048 855244AS8/ $1,000,000,000 November 15, May 15, $600 1 $200,000,000 4.625% UST due February 15, 2046 FIT 1 +75 bps $30 \n \n \n \n \n \n \n \nTender \nUS855244AS84 \n2048 \n2048 \nmillion \n \n \n \nOffers \n 5.400% Senior Notes due 2035 855244BM0/ $500,000,000 May 15, February 15, 2 —— 4.125% UST due February 15, 2036 FIT 1 +40 bps $30 \n \n \n \n \n \nUS855244BM06 \n2035 \n2035 \n 5.000% Senior Notes due 2034 855244BJ7/ $500,000,000 February 15, November 15, 3 —— 4.125% UST due February 15, 2036 FIT 1 +30 bps $30 \n \n \n \n \n \nUS855244BJ76 \n2034 \n2033 \n 4.900% Senior Notes due 2031 855244BH1/ $500,000,000 February 15, December 15, 4 —— 3.875% UST due April 30, 2031 FIT 1 +35 bps $30 \n \n \n \n \n \nUS855244BH11 \n2031 \n2030 \n 4.800% Senior Notes due 2033 855244BF5/ $500,000,000 February 15, November 15, 5 —— 4.125% UST due February 15, 2036 FIT 1 +20 bps $30 \n \n \n \n \n \nUS855244BF54 \n2033 \n2032 \n\n (1) If the Repurchase Yield (as defined below) as determined in accordance with \n the Offer to Purchase is less than the contractual annual rate of interest on \n a particular series of Notes, then the calculation will assume that the \n payments of such Notes are through the par call date of such Notes; if the \n Repurchase Yield as determined in accordance with the Offer to Purchase is \n higher than or equal to the contractual annual rate of interest on a \n particular series of Notes, then the calculation will assume that the payments \n of such Notes are through the maturity date of the Notes of such series. \n (2) The Pool 1 Maximum Amount of $500 million represents the maximum Aggregate \n Purchase Price of Pool 1 Notes that the Company is offering to purchase in the \n Pool 1 Tender Offers. The Pool 2 Maximum Amount of $600 million represents the \n maximum Aggregate Purchase Price of Pool 2 Notes that the Company is offering \n to purchase in the Pool 2 Tender Offers. \n (3) Subject to the Aggregate Cap, the Maximum Amounts, the Tender Sub Cap (as \n defined below) and proration, if applicable, the aggregate principal amount of \n each series of Notes that is purchased in the Tender Offer for that series \n will be determined in accordance with the applicable Acceptance Priority Level \n (in numerical priority order) specified in this column. \n (4) The Tender Offer with respect to the 4.500% Senior Notes due 2048 (the “2048 \n Notes”) will be subject to an aggregate principal amount sublimit of $200 \n million (the “Tender Sub Cap”). \n (5) Per $1,000 principal amount of Notes validly tendered prior to or at the Early \n Tender Date and accepted for purchase. \n (6) The Total Consideration (as defined below) for each series of Notes validly \n tendered prior to or at the Early Tender Date and accepted for purchase is \n calculated using the applicable Fixed Spread (as defined below) and includes \n the applicable Early Tender Payment (as defined below), which does not \n constitute an additional or increased payment. The Total Consideration for \n each series of Notes does not include the applicable Accrued Interest, which \n will be payable in addition to the applicable Total Consideration. \n\n\nThe Tender Offers will expire at 5:00 p.m. Eastern Time on June 2, 2026 or any\nother time and date to which the Company extends the applicable Tender Offer\n(such time and date as it may be extended with respect to a Tender Offer, the\napplicable “Expiration Date”) unless earlier terminated. Holders must\nvalidly tender their Notes prior to or at 5:00 p.m. Eastern Time on May 15,\n2026 (such time and date as it may be extended with respect to a Tender Offer,\nthe applicable “Early Tender Date”) to be eligible to receive the\napplicable Total Consideration plus Accrued Interest (each as defined below).\nIf Holders validly tender their Notes after the applicable Early Tender Date\nbut prior to or at the applicable Expiration Date they will only be eligible\nto receive the applicable Late Tender Offer Consideration (as defined below)\nplus Accrued Interest (as defined below) but not the Early Tender Payment (as\ndefined below). Tenders of Notes may be withdrawn prior to or at, but not\nafter, 5:00 p.m. Eastern Time, on May 15, 2026 (such time and date, as it may\nbe extended with respect to a Tender Offer, the applicable “Withdrawal\nDeadline”). Withdrawal rights with respect to the Notes will terminate at\nthe Withdrawal Deadline, except in certain limited circumstances where\nadditional withdrawal rights are required by law (as determined by the\nCompany).\n\nSubject to the Aggregate Cap, the Maximum Amounts, the Tender Sub Cap for the\n2048 Notes, in each case, as set forth in the table above, and proration, if\napplicable:\n (i) all Notes of a series with a higher Acceptance Priority Level that are validly \n tendered prior to or at the Early Tender Date will be accepted before any \n Notes of a series with a lower Acceptance Priority Level that are validly \n tendered prior to or at the Early Tender Date are accepted, and \n (ii) all Notes of a series with a higher Acceptance Priority Level that are validly \n tendered after the Early Tender Date will be accepted before any Notes of a \n series with a lower Acceptance Priority Level that are validly tendered after \n the Early Tender Date are accepted. \n\n\nHowever, Notes validly tendered prior to or at the Early Tender Date will be\naccepted for purchase in priority to Notes validly tendered after the Early\nTender Date, even if such Notes validly tendered after the Early Tender Date\nhave a higher Acceptance Priority Level than Notes validly tendered prior to\nor at the Early Tender Date. If the amount of validly tendered Pool 1 Notes of\nany given series, taken together with the amount of validly tendered Pool 1\nNotes of a series with a higher Acceptance Priority Level, would have an\nAggregate Purchase Price that exceeds the Pool 1 Maximum Amount, the amount of\nPool 1 Notes of such series that is purchased will be determined on a prorated\nbasis as described in the Offer to Purchase. If the amount of validly tendered\nPool 2 Notes of any given series, taken together with the amount of validly\ntendered Pool 2 Notes of a series with a higher Acceptance Priority Level,\nwould have an Aggregate Purchase Price that exceeds the Pool 2 Maximum Amount,\nthe amount of Pool 2 Notes of such series that is purchased will be determined\non a prorated basis as further described in the Offer to Purchase. If the\namount of validly tendered 2048 Notes would have an aggregate principal amount\nthat exceeds the Tender Sub Cap, the amount of 2048 Notes that is purchased\nwill be determined on a prorated basis as described in the Offer to Purchase.\nThe Company reserves the right, but is under no obligation, to increase,\ndecrease or eliminate the Tender Sub Cap at any time, including on or after\nthe Price Determination Date, and may do so without extending the applicable\nWithdrawal Deadline, subject to applicable law. If the Aggregate Cap is\nreached, a Tender Offer is fully subscribed up to the applicable Maximum\nAmount or the Tender Sub Cap, if applicable, is reached, as of the applicable\nEarly Tender Date, Holders who validly tender their Pool 1 Notes, Pool 2 Notes\nor 2048 Notes, as applicable, after the applicable Early Tender Date, but\nprior to or at the applicable Expiration Date, will not have any of their Pool\n1 Notes, Pool 2 Notes or 2048 Notes, as applicable, accepted for purchase.\n\nThe highest Acceptance Priority Level for the Pool 1 Tender Offers is 1, and\nthe lowest Acceptance Priority Level for the Pool 1 Tender Offers is 3. The\nhighest Acceptance Priority Level for the Pool 2 Tender Offers is 1, and the\nlowest Acceptance Priority Level for the Pool 2 Tender Offers is 5.\n\nThe applicable consideration (the “Total Consideration”) offered per\n$1,000 principal amount of each series of Notes validly tendered and not\nvalidly withdrawn and accepted for purchase pursuant to the applicable Tender\nOffer will be determined in the manner described in the Offer to Purchase by\nreference to the applicable fixed spread for such Notes (the “Fixed\nSpread”) specified in the table above plus the applicable yield (the\n“Reference Yield”) based on the bid-side price of the applicable U.S.\nTreasury Reference Security specified in the table above (as applicable to\neach series of Notes, the “Reference Security”) as displayed on the\napplicable Bloomberg Reference Page specified in the table above (the\n“Reference Page”) at 10:00 a.m., Eastern Time, on the Business Day (as\ndefined below) immediately following the applicable Early Tender Date, as such\ndate and time may be extended, referred to as the “Price Determination\nDate.” The Company expects that the Price Determination Date will be May 18,\n2026. The sum of the Fixed Spread and the Reference Yield is referred to as\nthe “Repurchase Yield.” “Business Day” means any day other than a\nSaturday, Sunday or federal holiday and consists of the time period from 12:01\na.m. through 5:00 p.m., Eastern time.\n\nHolders of any Notes that are validly tendered and not validly withdrawn prior\nto or at the applicable Early Tender Date and that are accepted for purchase\nwill receive the applicable Total Consideration. The Total Consideration, as\ncalculated using the Fixed Spread for each series of Notes set forth in the\ntable above, includes the Early Tender Payment, and the Early Tender Payment\ndoes not constitute additional or increased payment. Holders of any Notes that\nare validly tendered and not validly withdrawn after the applicable Early\nTender Date but prior to or at the applicable Expiration Date and that are\naccepted for purchase will receive the applicable Total Consideration minus an\namount in cash (the “Early Tender Payment”) equal to the applicable amount\nset forth in the table above under the heading “Early Tender Payment.” As\nused herein, the Total Consideration minus the Early Tender Payment is\nreferred to as the “Late Tender Offer Consideration.” No tenders will be\nvalid if submitted after the Expiration Date.\n\nIn addition to the Total Consideration or the Late Tender Offer Consideration,\nas applicable, all Holders of Notes accepted for purchase will also receive\naccrued and unpaid interest on Notes validly tendered, not validly withdrawn\nand accepted for purchase from the applicable last interest payment date up\nto, but not including, the applicable Settlement Date (“Accrued\nInterest”), payable on such Settlement Date.\n\nThe Tender Offers will expire on the applicable Expiration Date. Except as set\nforth below, payment for the Notes that are validly tendered prior to or at\nthe Expiration Date and that are accepted for purchase will be made on the\ndate referred to as the “Final Settlement Date.” The Final Settlement Date\nwill occur within two Business Days following the Expiration Date or as\npromptly as practicable thereafter, unless extended or earlier terminated with\nrespect to any series of Notes. It is anticipated that the Final Settlement\nDate, if applicable, will be June 4, 2026 (assuming the Expiration Date is on\nJune 2, 2026). The Company reserves the right, in its sole discretion, to make\npayment for Notes that are validly tendered prior to or at the Early Tender\nDate and that are accepted for purchase on the date referred to as the\n“Early Settlement Date.” Together, the Early Settlement Date and the Final\nSettlement Date are referred to as the “Settlement Dates.” The Early\nSettlement Date for the Notes, if applicable, will be a date following the\nEarly Tender Date and prior to the Expiration Date on which the conditions to\nthe satisfaction of the applicable Tender Offer are satisfied. If applicable,\nthe Early Settlement Date will occur within three Business Days following the\nEarly Tender Date or as promptly as practicable thereafter, unless extended or\nearlier terminated with respect to any series of Notes. It is anticipated that\nthe Early Settlement Date, if applicable, will be May 20, 2026 (assuming the\nEarly Tender Date is on May 15, 2026). Only Notes tendered prior to or at the\nEarly Tender Date will be eligible for purchase on the Early Settlement Date,\nif any.\n\nIf Holders validly tender their Notes prior to or at the applicable Withdrawal\nDeadline, they may validly withdraw their tendered Notes at any time prior to\nor at such Withdrawal Deadline. After such time, Holders may not withdraw\ntheir Notes except as may be required by law (as determined by the Company).\nThe Company does not intend to extend the Withdrawal Deadline or reinstate\nwithdrawal rights, subject to applicable law, in the case of any amendment or\nwaiver of conditions with respect to any Tender Offer. However, the Company,\nin its sole discretion, may extend a Withdrawal Deadline for any purpose. If a\ncustodian bank, broker, dealer, commercial bank, trust company or other\nnominee holds a Holder’s Notes, such nominee may have an earlier deadline or\ndeadlines for receiving instructions to tender or to withdraw tendered Notes.\n\nThe Tender Offers are subject to the satisfaction of certain conditions as set\nforth in the Offer to Purchase. The Company reserves the right, subject to\napplicable law, to (i) waive any and all conditions to any of the Tender\nOffers, (ii) extend or terminate any of the Tender Offers, (iii) increase or\ndecrease the Aggregate Cap, (iv) increase or decrease either of the Maximum\nAmounts, (v) increase or decrease the Tender Sub Cap or (vi) otherwise amend\nany of the Tender Offers in any respect. The Company may take any action\ndescribed in clauses (i) through (vi) above with respect to one or more Tender\nOffers without having to do so for all Tender Offers. In the case of clauses\n(i) through (vi) above, the Company does not intend to extend the Withdrawal\nDeadline or reinstate withdrawal rights, subject to applicable law. Holders\nshould refer to the Offer to Purchase for the complete terms and conditions\nfor the Tender Offers.\n\nThe Tender Offers are open to all Holders of the Notes.\n\nThe Company has retained (i) Morgan Stanley & Co. LLC, U.S. Bancorp\nInvestments, Inc. and Wells Fargo Securities, LLC as Lead Dealer Managers,\n(ii) BofA Securities, Citigroup Global Markets Inc., Scotia Capital (USA)\nInc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC as Co-Dealer\nManagers and (iii) D.F. King & Co., Inc. as the Tender and Information\nAgent, in each case, in connection with the Tender Offers. Any questions or\nrequests for assistance concerning the Tender Offers may be directed to (i)\nMorgan Stanley & Co. LLC at LMNY@morganstanley.com\n(mailto:LMNY@morganstanley.com) or by calling toll-free at (800) 624-1808 or\ncollect at (212) 761-1057, (ii) U.S. Bancorp Investments, Inc. at\nliabilitymanagement@usbank.com (mailto:liabilitymanagement@usbank.com) or by\ncalling toll-free at (800) 479-3441 or collect at (917) 558-2756 or (iii)\nWells Fargo Securities, LLC at liabilitymanagement@wellsfargo.com\n(mailto:liabilitymanagement@wellsfargo.com) or by calling toll-free at (866)\n309-6316 or collect at (704) 410-4759. Requests for additional copies of the\nOffer to Purchase or any other documents may be directed to D.F. King &\nCo., Inc. at SBUX@dfking.com (mailto:SBUX@dfking.com) or by calling (888)\n288-0951 (toll-free) or (646) 582-9168 (collect for banks and brokers).\n\nThe Company is making the Tender Offers only by, and pursuant to, the terms of\nthe Offer to Purchase. None of the Company or its affiliates, their respective\nboards of directors, officers, employees, agents or affiliates, the Dealer\nManagers, the Tender and Information Agent or the trustee with respect to any\nseries of Notes is making any recommendation as to whether Holders should\ntender any Notes in response to any of the Tender Offers, and neither the\nCompany nor any such other person has authorized any person to make any such\nrecommendation. Holders must make their own decision as to whether to tender\nany of their Notes, and, if so, the Aggregate Principal amount of such Notes\nto tender. The Tender Offers are not being made to holders of the Notes in any\njurisdiction in which the making or acceptance thereof would not be in\ncompliance with the securities, blue sky or other laws of such jurisdiction.\nIn any jurisdiction in which the securities laws or blue sky laws require the\nTender Offers to be made by a licensed broker or dealer, the Tender Offers\nwill be deemed to be made on behalf of the Company by the Dealer Managers or\none or more registered brokers or dealers that are licensed under the laws of\nsuch jurisdiction.\n\nThis press release does not constitute an offer to purchase securities or a\nsolicitation of an offer to sell any securities or an offer to sell or the\nsolicitation of an offer to purchase any securities nor does it constitute an\noffer or solicitation in any jurisdiction in which such offer or solicitation\nis unlawful.\n\nAbout Starbucks\n\nSince 1971, Starbucks Coffee Company has been committed to responsibly\nsourcing and roasting high-quality arabica coffee. Today, with a global\nfootprint of more than 41,000 company-operated and licensed coffeehouses and a\ngrowing presence in consumer-packaged goods, we are the world's premier\npurveyor of specialty coffee. Through our unwavering commitment to excellence\nand our guiding principles, we bring the unique Starbucks Experience to life\nfor every customer through every cup. To share in the experience, please visit\nus in our stores or online at about.starbucks.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fabout.starbucks.com%2F&esheet=54528557&newsitemid=20260504574503&lan=en-US&anchor=about.starbucks.com&index=1&md5=13bd052394153564f3a30c69643c557b)\nor www.starbucks.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.starbucks.com&esheet=54528557&newsitemid=20260504574503&lan=en-US&anchor=www.starbucks.com&index=2&md5=4f6e34ce16952009061d4a5fca880e7f)\n.\n\nForward-Looking Statements\n\nThis press release includes certain “forward-looking” statements within\nthe meaning of the Private Securities Litigation Reform Act of 1995 regarding\nfuture events and the potential future results of Starbucks Corporation\n(together with its subsidiaries) that are based on our current expectations,\nestimates, forecasts, and projections about, among other things, our business,\nour results of operations, the industry in which we operate, our economic and\nmarket outlook, and the beliefs and assumptions of our management.\nForward-looking statements can be identified by the fact that they do not\nrelate strictly to historical or current facts. All statements other than\nstatements of historical fact, including statements regarding guidance,\nindustry prospects, or future results of operations or financial position,\nmade in or incorporated by reference into this prospectus are forward-looking.\nWe use words such as “believes,” “continues,” “anticipates,”\n“forecasts,” “estimates,” “expects,” “future,” “plan,”\n“seeks” or words of similar meaning, or future or conditional verbs, such\nas “will,” “should,” “could,” “would,” “may,” “aims,”\n“intends,” or “projects” and similar expressions intended to identify\nforward-looking statements, although not all forward-looking statements\ncontain these identifying words. By their nature, forward-looking statements\ninvolve risks, uncertainties, and other factors (many beyond our control) that\ncould cause our actual results to differ materially from our historical\nexperience or from our current expectations or projections. Forward-looking\nstatements reflect the Company’s current expectations and are inherently\nuncertain. Although we believe we have been prudent in our plans and\nassumptions, no assurance can be given that any goal or plan set forth in\nforward-looking statements can or will be achieved, and readers are cautioned\nnot to place undue reliance on such statements which speak only as of the date\nthey are made. Although we undertake no obligation to revise or update any\nforward-looking statements, whether as a result of new information, future\nevents, or otherwise, except as required by law, readers are advised to\nconsult any additional disclosures we make in our Annual Reports on Form 10-K,\nQuarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the\nSEC.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260504574503/en/\n(https://www.businesswire.com/news/home/20260504574503/en/)\n\nFor Investors:\n\nCatherine Park\n\ninvestorrelations@starbucks.com (mailto:investorrelations@starbucks.com)\n\nFor Media:\n\nEmily Albright\n\npress@starbucks.com (mailto:press@starbucks.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-05-04T20:02:00.229010067Z","server_sent_at_ms":1777924920229},"received_at":"2026-05-04T20:02:00.437Z","source_url":"https://www.businesswire.com/news/home/20260504574503/en/"},"analysis":{"id":"14337","press_release_id":"19609","analysis_json":{"industry":{"label":"Consumer Services","sector":"Consumer Discretionary"},"redFlags":[],"eventType":"other","narrative":"Starbucks announced cash tender offers to purchase up to $1.1 billion aggregate principal amount of outstanding notes across eight series.\n\nThe offers are segmented into Pool 1, targeting $500 million of notes maturing in 2028 and 2030, and Pool 2, targeting $600 million of notes maturing between 2031 and 2048.\n\nThe Early Tender Date is set for May 15, 2026, and the offers are scheduled to expire on June 2, 2026, unless extended or earlier terminated.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Starbucks moves to optimize capital structure with $1.1B debt tender offer."},"keyFigures":{"dealValueUsd":1100000000,"customDimensions":{"expiration_date":"June 2, 2026","early_tender_date":"May 15, 2026","pool_1_max_amount":"$500 million","pool_2_max_amount":"$600 million","tender_sub_cap_2048":"$200 million"}},"quotedText":"","namedEntities":{"people":[{"name":"Catherine Park","role":"Investor Relations Contact"},{"name":"Emily Albright","role":"Media Contact"}],"products":["4.800% Senior Notes due 2030","4.500% Senior Notes due 2028","4.000% Senior Notes due 2028","4.500% Senior Notes due 2048","5.400% Senior Notes due 2035","5.000% Senior Notes due 2034","4.900% Senior Notes due 2031","4.800% Senior Notes due 2033"],"companies":[{"name":"Starbucks Corporation","ticker":"SBUX"},{"name":"Morgan Stanley & Co. LLC","relationship":"Lead Dealer Manager"},{"name":"U.S. Bancorp Investments, Inc.","relationship":"Lead Dealer Manager"},{"name":"Wells Fargo Securities, LLC","relationship":"Lead Dealer Manager"},{"name":"BofA Securities","relationship":"Co-Dealer Manager"},{"name":"Citigroup Global Markets Inc.","relationship":"Co-Dealer Manager"},{"name":"Scotia Capital (USA) Inc.","relationship":"Co-Dealer Manager"},{"name":"J.P. Morgan Securities LLC","relationship":"Co-Dealer Manager"},{"name":"Goldman Sachs & Co. LLC","relationship":"Co-Dealer Manager"},{"name":"D.F. King & Co., Inc.","relationship":"Tender and Information Agent"}],"dollarAmounts":[{"amount":"$1.1 billion","context":"Aggregate Purchase Price (Aggregate Cap)"},{"amount":"$500 million","context":"Pool 1 Maximum Amount"},{"amount":"$600 million","context":"Pool 2 Maximum Amount"},{"amount":"$200 million","context":"Tender Sub Cap for 4.500% Senior Notes due 2048"}]},"materialImpact":{"score":3,"reasoning":"Starbucks is utilizing cash to retire up to $1.1 billion in debt across eight series of notes. This represents a proactive capital structure optimization, which is positive for the balance sheet, but is a standard financial transaction rather than a fundamental operational shift or binary market event."},"tickerRelevance":{"others":[],"primary":"SBUX"},"globalImportance":30,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"debt_tender_offer","sectorWeight":"consumer_discretionary"}},"event_type":"other","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Starbucks announced cash tender offers to purchase up to $1.1 billion aggregate principal amount of outstanding notes across eight series.\n\nThe offers are segmented into Pool 1, targeting $500 million of notes maturing in 2028 and 2030, and Pool 2, targeting $600 million of notes maturing between 2031 and 2048.\n\nThe Early Tender Date is set for May 15, 2026, and the offers are scheduled to expire on June 2, 2026, unless extended or earlier terminated.","key_figures":{"dealValueUsd":1100000000,"customDimensions":{"expiration_date":"June 2, 2026","early_tender_date":"May 15, 2026","pool_1_max_amount":"$500 million","pool_2_max_amount":"$600 million","tender_sub_cap_2048":"$200 million"}},"named_entities":{"people":[{"name":"Catherine Park","role":"Investor Relations Contact"},{"name":"Emily Albright","role":"Media Contact"}],"products":["4.800% Senior Notes due 2030","4.500% Senior Notes due 2028","4.000% Senior Notes due 2028","4.500% Senior Notes due 2048","5.400% Senior Notes due 2035","5.000% Senior Notes due 2034","4.900% Senior Notes due 2031","4.800% Senior Notes due 2033"],"companies":[{"name":"Starbucks Corporation","ticker":"SBUX"},{"name":"Morgan Stanley & Co. LLC","relationship":"Lead Dealer Manager"},{"name":"U.S. Bancorp Investments, Inc.","relationship":"Lead Dealer Manager"},{"name":"Wells Fargo Securities, LLC","relationship":"Lead Dealer Manager"},{"name":"BofA Securities","relationship":"Co-Dealer Manager"},{"name":"Citigroup Global Markets Inc.","relationship":"Co-Dealer Manager"},{"name":"Scotia Capital (USA) Inc.","relationship":"Co-Dealer Manager"},{"name":"J.P. Morgan Securities LLC","relationship":"Co-Dealer Manager"},{"name":"Goldman Sachs & Co. LLC","relationship":"Co-Dealer Manager"},{"name":"D.F. King & Co., Inc.","relationship":"Tender and Information Agent"}],"dollarAmounts":[{"amount":"$1.1 billion","context":"Aggregate Purchase Price (Aggregate Cap)"},{"amount":"$500 million","context":"Pool 1 Maximum Amount"},{"amount":"$600 million","context":"Pool 2 Maximum Amount"},{"amount":"$200 million","context":"Tender Sub Cap for 4.500% Senior Notes due 2048"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-04T20:18:16.231Z","global_importance":30,"audience_relevance":30,"importance_components":{"tickerTier":"large-cap","eventGravity":"debt_tender_offer","sectorWeight":"consumer_discretionary"}},"durationMs":100953,"modelName":"glm-4.7"}}