Dr Pepper to redeem $360 million of 6.82% notes with new deal funds

New York, Sept. 7 – Dr Pepper Snapple Group, Inc. plans to redeem $360 million of its $724 million of 6.82% senior notes due 2018 using proceeds from an offering of new notes.

Cash raised from the offering of debt will cover the principal amount, the redemption premium, accrued interest and fees and expenses of the redemption, according to a 424B3 filing with the Securities and Exchange Commission.

Any remaining funds from the new notes will be used for general corporate purposes.

Dr Pepper announced the note sale on Wednesday morning, saying that the bookrunners would be J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC.

Dr Pepper is a Plano, Texas, maker of non-alcoholic beverages.

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