STARBUCKS CORP 8-K

What Happened

• Starbucks Corporation announced on May 20, 2026 that it completed settlement of its previously announced cash tender offers to purchase certain series of its senior notes (Offer to Purchase dated May 4, 2026, amended May 15, 2026). The company accepted $1,315,892,000 aggregate principal of notes for purchase and paid approximately $1,302,173,176.10 (including accrued interest) to settle those purchases. Starbucks elected to settle on the Early Settlement Date and does not intend to purchase any additional notes.

Key Details

• Repurchased principal by series (accepted for purchase / total purchase price / principal remaining outstanding):
  • 4.800% due 2030: $321,824,000 accepted; $325,720,215.89 paid; $178,176,000 remaining.
  • 4.500% due 2028: $273,468,000 accepted; $274,664,422.50 paid; $476,532,000 remaining.
  • 4.500% due 2048: $200,000,000 accepted; $166,067,000.00 paid; $800,000,000 remaining.
  • 5.400% due 2035: $410,249,000 accepted; $423,011,846.39 paid; $89,751,000 remaining.
  • 5.000% due 2034: $110,351,000 accepted; $112,709,691.32 paid; $389,649,000 remaining.
• The company did not purchase any of its 4.000% Senior Notes due 2028, 4.900% Senior Notes due 2031, or 4.800% Senior Notes due 2033; outstanding principal for those series remains unchanged from the amounts reported in the 10-Q filed April 28, 2026.

Why It Matters

• Debt repurchases reduce the outstanding principal on specific notes and can lower future interest obligations or change Starbucks’ debt maturity profile. Investors should note the company used cash to buy back about $1.316 billion in principal (≈$1.302 billion paid including interest) and has stated it does not plan further purchases under these offers. This is a financing activity that may affect leverage and cash position; review Starbucks’ upcoming financial reports for detailed impacts.