Starbucks Refinances Credit Facility, Benefits from Favorable Market Pricing

  Starbucks Refinances Credit Facility, Benefits from Favorable Market Pricing

Business Wire

SEATTLE -- February 8, 2013

Starbucks Coffee Company (NASDAQ:SBUX) today announced the renewal of its
unsecured, revolving credit facility, which increases borrowing capacity from
$500 million to $750 million. The credit facility is scheduled to mature on
February 5, 2018, and replaces the current facility which was set to mature on
November 17, 2014. Funds borrowed under the agreement will complement the
company’s strong operational cash flow and may be used for general corporate
purposes including working capital, capital expenditures, share repurchases
and potential growth opportunities.

“Our new credit agreement increases our borrowing capacity significantly,
while lowering our cost of credit and extending the availability of funds for
the next five years,” said Troy Alstead, Starbucks chief financial officer.
“Augmenting Starbucks already strong cash flow generation, this credit
facility will provide the company with the flexibility and resources to
effectively manage our business and pursue additional opportunities to build
shareholder value.”

Starbucks previous credit facility had the option to request an increase in
the aggregate commitments by up to $500 million for a total aggregate facility
commitment not to exceed $1 billion. The new facility has the option to
request an increase in the aggregate commitments by up to $750 million for a
total aggregate facility commitment not to exceed $1.5 billion.

Bank of America, N.A. is serving as the administrative agent, swing line
lender and letter of credit issuer for the facility. Wells Fargo Bank, N.A.
and Citibank, N.A. are acting as co-syndication agents. The remaining
syndicate group is comprised of relationship banks.

About Starbucks Corporation

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing
and roasting the highest-quality arabica coffee in the world. Today, with
stores around the globe, the company is the premier roaster and retailer of
specialty coffee in the world. Through our unwavering commitment to excellence
and our guiding principles, we bring the unique Starbucks Experience to life
for every customer through every cup. To share in the experience, please visit
us in our stores or online at www.starbucks.com.

Contact:

Starbucks Coffee Company
Media Contact:
Jim Olson, +1-206-318-7100
press@starbucks.com
or
Investor Relations Contacts:
JoAnn DeGrande/Greg Smith, +1-206-318-7118
investorrelations@starbucks.com