Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2008–FY2025: $6.48B in buybacks, $10.05B in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
Related accounting measures — not additional borrowing
Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year.
Current operating lease liabilities
USD 210,000,000
Noncurrent operating lease liabilities
USD 951,000,000
2 filing observations remain unmatched and are excluded from instrument histories.
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
2 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged. 1 legal exhibit was not safely readable, so covenant coverage is incomplete.
Covenants
Some sections could not be verified in 1 agreement document. Other restrictions or tests may apply.
Verified tests, triggers and restrictions appear with each agreement below. A verified term does not establish current compliance.
Loans, facilities and notes
3.495% Senior Notes due 2028
Note · Maple Parent Holdings Corp.
Reference: 3.495% Senior Notes due 2028
Active
Original principal
EUR 600,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
3.495%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. International plc, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
3.881% Senior Notes due 2030
Note · Maple Parent Holdings Corp.
Reference: 3.881% Senior Notes due 2030
Active
Original principal
EUR 800,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
3.881%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. International plc, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
4.224% Senior Notes due 2032
Note · Maple Parent Holdings Corp.
Reference: 4.224% Senior Notes due 2032
Active
Original principal
EUR 800,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4.224%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. International plc, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
4.728% Senior Notes due 2035
Note · Maple Parent Holdings Corp.
Reference: 4.728% Senior Notes due 2035
Active
Original principal
EUR 800,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4.728%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
4 · Change of Control Triggering Eventeach Holder of the Notes shall have the right to require the Company to repurchase all or any part (equal to an integral multiple of €1,000) of such Holder's Notes at an offer price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest thereon, if any, to the date of repurchaseSpringingTrigger: the occurrence of a Change of Control Triggering EventExceptions: unless all Notes have been called for redemption pursuant to paragraph 2 of this Note4.728% SENIOR NOTES DUE 2035Full wording and supporting evidence
Source evidence: 4. Upon the occurrence of a Change of Control Triggering Event, unless all Notes have been called for redemption pursuant to paragraph 2 of this Note, each Holder of the Notes shall have the right to require the Company to repurchase all or any part (equal to an integral multiple of €1,000) of such Holder's Notes at an offer price in cash equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest thereon, if any, to the date of repurchase. "Change of Control Triggering Event" means the occurrence of both a Change of Control and a Rating Event, as such terms are defined in the Indenture. The Change of Control Offer will be made in accordance with the terms specified in the Indenture.
Target identity evidence: MAPLE PARENT HOLDINGS CORP., a Delaware corporation (herein called the "Company"), for value received, hereby promises to pay to USB Nominees (UK) Limited, or its registered assigns, the principal sum of ___________ EURO or such other Principal Amount as shall be set forth on Schedule I hereto on March 26, 2035 and to pay interest thereon at the rate of 4.728% per annum
Target identity evidence: This FIRST SUPPLEMENTAL INDENTURE (this "First Supplemental Indenture"), dated as of March 26, 2026, among MAPLE PARENT HOLDINGS CORP., a Delaware corporation (the "Company" or the "Issuer")
Target identity evidence: This Note is one of a duly authorized issue of securities of the Company designated as its 4.728% Senior Notes due 2035 (the "Notes")
6 · Event of Defaultthe principal of the Notes may be declared due and payable in the manner and with the effect provided in the IndentureSpringingTrigger: an Event of Default with respect to the Notes shall occur and be continuing4.728% SENIOR NOTES DUE 2035Full wording and supporting evidence
Source evidence: 6. If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.
Target identity evidence: MAPLE PARENT HOLDINGS CORP., a Delaware corporation (herein called the "Company"), for value received, hereby promises to pay to USB Nominees (UK) Limited, or its registered assigns, the principal sum of ___________ EURO or such other Principal Amount as shall be set forth on Schedule I hereto on March 26, 2035 and to pay interest thereon at the rate of 4.728% per annum
Target identity evidence: This FIRST SUPPLEMENTAL INDENTURE (this "First Supplemental Indenture"), dated as of March 26, 2026, among MAPLE PARENT HOLDINGS CORP., a Delaware corporation (the "Company" or the "Issuer")
Target identity evidence: This Note is one of a duly authorized issue of securities of the Company designated as its 4.728% Senior Notes due 2035 (the "Notes")
3 · Special Mandatory Redemptionthe Company shall redeem the outstanding Notes on the Special Mandatory Redemption Date at the Special Mandatory Redemption PriceSpringingTrigger: a Special Mandatory Redemption Event occurs4.728% SENIOR NOTES DUE 2035Full wording and supporting evidence
Source evidence: 3. If a Special Mandatory Redemption Event occurs, then the Company shall redeem the outstanding Notes on the Special Mandatory Redemption Date at the Special Mandatory Redemption Price. The Company may redeem all, but not part, of the Notes upon the occurrence of specified tax events as described in the First Supplemental Indenture.
Target identity evidence: MAPLE PARENT HOLDINGS CORP., a Delaware corporation (herein called the "Company"), for value received, hereby promises to pay to USB Nominees (UK) Limited, or its registered assigns, the principal sum of ___________ EURO or such other Principal Amount as shall be set forth on Schedule I hereto on March 26, 2035 and to pay interest thereon at the rate of 4.728% per annum
Target identity evidence: This FIRST SUPPLEMENTAL INDENTURE (this "First Supplemental Indenture"), dated as of March 26, 2026, among MAPLE PARENT HOLDINGS CORP., a Delaware corporation (the "Company" or the "Issuer")
Target identity evidence: This Note is one of a duly authorized issue of securities of the Company designated as its 4.728% Senior Notes due 2035 (the "Notes")
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. International plc, Goldman Sachs & Co. LLC and J.P. Morgan Securities plc as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of €600 million aggregate principal amount of its 3.495% Senior Notes due 2028, €800 million aggregate principal amount of its 3.881% Senior Notes due 2030, €800 million aggregate principal amount of its 4.224% Senior Notes due 2032 and €800 million aggregate principal amount of its 4.728% Senior Notes due 2035 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below).
4.750% Senior Notes due 2029
Note · Maple Parent Holdings Corp.
Reference: 4.750% Senior Notes due 2029
Active
Original principal
USD 550,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
4.75%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
5.050% Senior Notes due 2031
Note · Maple Parent Holdings Corp.
Reference: 5.050% Senior Notes due 2031
Active
Original principal
USD 600,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
5.05%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
5.700% Senior Notes due 2036
Note · Maple Parent Holdings Corp.
Reference: 5.700% Senior Notes due 2036
Active
Original principal
USD 700,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
5.7%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
6.625% Senior Notes due 2056
Note · Maple Parent Holdings Corp.
Reference: 6.625% Senior Notes due 2056
Active
Original principal
USD 700,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Last reported interest terms:
6.625%
Reported 2026-03-26Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
Issuer evidence: This REGISTRATION RIGHTS AGREEMENT dated March 26, 2026 (this “Agreement”) is entered into by and among Maple Parent Holdings Corp., a Delaware corporation (the “Issuer”), Keurig Dr Pepper Inc., a Delaware corporation (“KDP Parent”), as guarantor, the other guarantors listed in Schedule III to the Purchase Agreement (as defined below) (together with KDP Parent, the “Guarantors”), Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as representatives (the “Representatives”) of the initial purchasers listed in Schedule II to the Purchase Agreement (the “Initial Purchasers”).
Supporting evidence: The Issuer, the Guarantors, and the Representatives are parties to the Purchase Agreement dated March 12, 2026 (the “Purchase Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of $550 million aggregate principal amount of its 4.750% Senior Notes due 2029, $600 million aggregate principal amount of its 5.050% Senior Notes due 2031, $700 million aggregate principal amount of its 5.700% Senior Notes due 2036 and $700 million aggregate principal amount of its 6.625% Senior Notes due 2056 (collectively, the “Securities”), which will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by each Guarantor pursuant to the terms of the Indenture (as defined below). Immediately upon the Separation (as defined below), the Guarantees of KDP Parent and the KDP Guarantors will be automatically released and discharged pursuant to the terms of the Indenture.
euro denominated notes
Note · Maple Parent Holdings Corp.
Reference: euro denominated notes
Active
Original principal
EUR 3,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Covenant terms for this agreement are not yet verified.
As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Issuer evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Supporting evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Maple Notes
Note · Maple Parent Holdings Corp.
Reference: Maple Notes
Active
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Covenant terms for this agreement are not yet verified.
As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Issuer evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Supporting evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
USD denominated notes
Note · Maple Parent Holdings Corp.
Reference: USD denominated notes
Active
Original principal
USD 2,550,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—
Covenant terms for this agreement are not yet verified.
As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Issuer evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Supporting evidence: As previously disclosed, on March 26, 2026, Maple Parent Holdings Corp. (“Maple”), a wholly-owned subsidiary of Keurig Dr Pepper Inc. (the “Company” or “KDP”), completed private offerings of €3.0 billion aggregate principal amount of euro denominated notes and $2.55 billion aggregate principal amount of USD denominated notes (collectively, the “Maple Notes”), which are guaranteed by the Company and certain of its subsidiaries (the “KDP Guarantors”). In addition, on March 6, 2026, KDP entered into an amendment to its Term Loan Agreement, dated as of December 18, 2025, which provides for a senior unsecured delayed draw term loan facility in an aggregate amount not to exceed €10.35 billion (the “Delayed Draw Term Loan Facility”), pursuant to which Maple became a co-borrower and agreed to be jointly and severally liable with KDP for all obligations thereunder. The net proceeds of the Maple Notes and the borrowings under the Delayed Draw Term Loan Facility, together with other financing sources, were used to fund the Company’s previously announced acquisition of all of the issued and outstanding ordinary shares of JDE Peet’s N.V., which was completed on April 1, 2026.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
3.79×
Peer median 2.32×
EV/EBIT
23.34×
Peer median 26.70×
P/E (TTM)
35.34×
Peer median 42.76×
Peer medians compare against the 6 similar-size Beverages - Non-Alcoholic companies (of 17 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
U.S. Refreshment Beverages
$10,439,000,000
$9,331,000,000
$8,821,000,000
—
—
—
—
—
U.S. Coffee
$3,990,000,000
$3,967,000,000
$4,071,000,000
—
—
—
—
—
International
$2,174,000,000
$2,053,000,000
$1,922,000,000
—
—
—
—
—
Beverage Concentrates
—
—
—
$1,725,000,000
$1,486,000,000
$1,325,000,000
$1,414,000,000
$669,000,000
Coffee Systems
—
—
—
$4,982,000,000
$4,716,000,000
$4,433,000,000
$4,233,000,000
$4,114,000,000
Latin America Beverages
—
—
—
$743,000,000
$599,000,000
$497,000,000
$528,000,000
$244,000,000
Packaged Beverages
—
—
—
$6,607,000,000
$5,882,000,000
$5,363,000,000
$4,945,000,000
$2,415,000,000
By Geography (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
United States
$14,502,000,000
$13,368,000,000
$12,961,000,000
$12,454,000,000
$11,267,000,000
$10,318,000,000
$9,843,000,000
$6,608,000,000
Non Us
$2,101,000,000
$1,983,000,000
$1,853,000,000
$1,603,000,000
$1,416,000,000
$1,300,000,000
$1,277,000,000
$834,000,000
By Product & Service (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
LRB
$11,602,000,000
$10,566,000,000
$9,905,000,000
$8,938,000,000
$7,830,000,000
—
—
—
K-Cup Pods
$3,777,000,000
$3,614,000,000
$3,684,000,000
$3,772,000,000
$3,546,000,000
$3,369,000,000
$3,293,000,000
$3,249,000,000
Appliances
$646,000,000
$772,000,000
$799,000,000
$923,000,000
$907,000,000
$850,000,000
$723,000,000
$643,000,000
Other Net Sales
$578,000,000
$399,000,000
$426,000,000
$424,000,000
$400,000,000
—
—
—
CSD
—
—
—
—
—
$4,154,000,000
$3,984,000,000
$1,914,000,000
NCB
—
—
—
—
—
$2,622,000,000
$2,476,000,000
$1,228,000,000
Other Products
—
—
—
—
—
$623,000,000
$644,000,000
$408,000,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
