KDP Gets Another $1.5 Billion of Capital in Bid to Trim Leverage

Keurig Dr Pepper Inc. is raising an additional $1.5 billion through a convertible equity investment as the coffee and beverage company looks to reduce its debt levels and win over investors ahead of its acquisition of Dutch coffee company JDE Peet’s NV and split into two entities.

Keurig Dr Pepper said the additional capital raised from accounts advised by T. Rowe Price Investment Management and others means it will no longer consider a partial initial public offering of its beverage unit, a possibility that it had raised last year.