Keurig Dr Pepper has priced an underwritten public offering of about 57.97 million shares at 34.50 dollars each, raising about 2 billion dollars, with a 30 day option for underwriters to buy up to a further 300 million dollars of shares. Goldman Sachs and Morgan Stanley are joint book running managers. The company intends to use the net proceeds to repay or repurchase about 2 billion dollars of debt ahead of its separation into Beverage Co. and Global Coffee Co., expected in early 2027. It reported long term debt excluding capitalized leases of about 21.06 billion dollars at September 30, 2026. The offering is expected to close on November 16.
Saudi Arabia’s Power Procurement Company has released a request for qualification for Round 8 of the National Renewable Energy Program, covering 3,200 megawatts across three independent power projects: the 900 megawatt Tumair solar project in Riyadh province, the 1,000 megawatt East Al Amoah solar project in Aseer province and the 1,300 megawatt Al Mozeraah wind project in Makkah province. Developers that qualify will bid for power purchase agreements with the state buyer. No investment values or tariffs have been published at this stage.
Advanced Drainage Systems has completed its acquisition of StormTrap Investments from PSP Capital, adding large volume, space constrained stormwater storage products to its water management range. The closing was reported in the company’s Form 8-K filed November 12, accession 0001193125-26-458605, and its Business Wire release of the same day. Jefferies was the company’s financial adviser. No purchase price, financing terms or StormTrap revenue figures were disclosed.