Starbucks Serves Up $1 Billion of Bonds to Fund Buyback Plan
- Coffee chain’s capital return program draws downgrades
- Fitch says total debt could rise by as much as $6 billion
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Starbucks Corp. sold $1 billion of bonds to help finance its plan to pay out more money to shareholders.
The world’s biggest coffee chain offered bonds in two parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, yields 97 basis points more than Treasuries, down from initial talk of between 1.20 percentage points and 1.25 percentage points, said the person, who asked not to be identified as the deal is private.