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DPS > SEC Filings for DPS > Form 8-K on 14-Nov-2012All Recent SEC Filings

Show all filings for DR PEPPER SNAPPLE GROUP, INC.

Form 8-K for DR PEPPER SNAPPLE GROUP, INC.


14-Nov-2012

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement.
On November 13, 2012, Dr Pepper Snapple Group, Inc. ("DPS") entered into an Underwriting Agreement with J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as joint book-running managers and on behalf of the other underwriters named therein (the "Underwriting Agreement"), providing for the purchase and sale of an aggregate of $500 million of senior unsecured notes consisting of $250 million aggregate principal amount of its 2.000% Senior Notes due 2020 (the "2020 Notes") and $250 million aggregate principal amount of its 2.700% Senior Notes due 2022 (the "2022 Notes" and, together with the 2020 Notes, the "Notes") in an offering registered under the Securities Act of 1933, as amended (the "Securities Act"). At the time of issuance, the Notes will be guaranteed by all of our domestic subsidiaries (except two immaterial subsidiaries associated with charitable purposes) (the "Subsidiary Guarantors"). Issuance and delivery of the Notes is expected to occur November 20, 2012, subject to customary closing conditions, pursuant to the Indenture, dated as of December 15, 2009, between DPS and Wells Fargo Bank, N.A., as trustee (the "Trustee"), and a Fourth Supplemental Indenture to be entered into among DPS, the Subsidiary Guarantors and the Trustee. DPS estimates that its net proceeds from the sale of the Notes will be approximately $494 million (after underwriting discounts and offering expenses). DPS intends to use such net proceeds to retire at maturity its 2.350% Senior Notes due December 21, 2012 and any remaining proceeds for general corporate purposes. The Underwriting Agreement contains customary representations, warranties and agreements of DPS and customary conditions to closing, indemnification rights and obligations of the parties and termination provisions.
A copy of the Underwriting Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K. The summary of the Underwriting Agreement in this Item 1.01 is qualified entirely by the terms and conditions set forth in the Underwriting Agreement, which is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
  Exhibit
  Number                                  Description

   10.1       Underwriting Agreement dated November 13, 2012, among J.P. Morgan
              Securities LLC and Merrill Lynch, Pierce, Fenner & Smith
              Incorporated, as joint book-running managers and on behalf of the
              other underwriters named therein, and Dr Pepper Snapple Group, Inc.


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