This is a routine debt management action with minimal near-term stock impact. Monitor the next 10-Q for the effect on interest expense and leverage ratios. No immediate catalyst.
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Executive Summary
Starbucks completed its previously announced cash tender offers, purchasing $1.32 billion aggregate principal amount of six series of senior notes for a total of $1.30 billion (including accrued interest). The remaining outstanding amounts for the purchased series range from $89.8 million to $800 million, while three series were not purchased. This debt reduction is modest relative to Starbucks' total debt and is a routine capital allocation move.
Key Facts
- Starbucks purchased $1.32B aggregate principal of senior notes across six series at a total cost of $1.30B (including accrued interest).
- Notes purchased: 4.800% notes due 2030 ($321.8M), 4.500% notes due 2028 ($273.5M), 4.500% notes due 2048 ($200M), 5.400% notes due 2035 ($410.2M), 5.000% notes due 2034 ($110.4M).
- Remaining outstanding amounts on purchased series range from $89.8M to $800M.
- The company did not purchase any of its 4.000% notes due 2028, 4.900% notes due 2031, or 4.800% notes due 2033.
Financial Impact
Debt reduction of $1.32B in principal, costing $1.30B in cash, reducing annual interest expense modestly.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000829224-26-000094 |
| Document: 0000829224-26-000094-index-headers.html | 0000829224-26-000094 |
| Document: 0000829224-26-000094-index.html | 0000829224-26-000094 |
| Document: 0000829224-26-000094.txt | 0000829224-26-000094 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | ANALYST-UPGRADE | $97.34 $94.14 | ▼ −3.29% | ▼ −5.85% | $94.95 (−2.45%) |
Jun 23, 2026 14w ago | Court Ruling | $101.05 $104.06 | ▲ +2.98% | ▲ +1.97% | $94.95 (−6.03%) |
Jun 14, 2026 15w ago | Institutional Cluster | $101.59 $100.15 | ▼ −1.42% | ▼ −0.03% | $94.95 (−6.53%) |
Jun 12, 2026 15w ago | 8-K | $101.59 $100.15 | ▼ −1.42% | ▼ −0.03% | $94.95 (−6.53%) |
Jun 11, 2026 16w ago | Institutional Cluster | $102.28 $99.82 | ▼ −2.41% | ▼ −2.84% | $94.95 (−7.16%) |
May 26, 2026 18w ago | Court Ruling | $101.35 $96.51 | ▼ −4.77% | ▼ −5.86% | $94.95 (−6.31%) |
May 20, 2026 19w ago | 8-K | $104.11 $99.12 | ▼ −4.79% | ▼ −6.64% | $94.95 (−8.79%) |
May 18, 2026 19w ago | Court Ruling | $106.60 $101.42 | ▼ −4.86% | ▼ −6.48% | $94.95 (−10.92%) |
May 15, 2026 20w ago | 8-K | $106.76 $103.10 | ▲ +3.43% | ▲ +4.39% | $94.95 (+11.05%) |
May 14, 2026 20w ago | ANALYST-UPGRADE | $106.38 $104.11 | ▼ −2.13% | ▼ −1.42% | $94.95 (−10.74%) |
US Market Status
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