Starbucks Raises $750 Million With Bond Sale After Settlement
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Starbucks Corp., which said last month that it would pay Mondelez International Inc. $2.79 billion to settle a distribution dispute, borrowed $750 million to help fund the outlay.
The world’s largest coffee-shop operator sold $400 million of 0.875 percent, three-year bonds that yield 38 basis points more than similar-maturity Treasuries and $350 million of 2 percent, five-year notes that pay 63 more than benchmarks, according to data compiled by Bloomberg. Proceeds may be used to fund a portion of the arbitration award, Seattle-based Starbucks said today in a regulatory filing.