Soft drinks bottler Coca-Cola Hellenic Bottling Corp has announced the launch of a EUR300m (US$450m) bond issue.

The proceeds of the bond will be partly used to fund a previously announced capital return payment and will allow Coca-Cola Hellenic to extend its maturity profile, the company said today (10 November). 

The seven-year offering, which offers a 4.25% coupon, attracted almost EUR3bn in orders, the company said today (10 November) and has been placed with a diversified investor base.

The bond is issued by Coca-Cola HBC Finance and guaranteed by Coca-Cola Hellenic and will be listed on the London Stock Exchange.

The transaction will settle on 16 November and the bonds will mature on 16 November 2016.

Credit Suisse, Citi and Bank of America Merrill Lynch acted as joint lead managers while Alpha Bank and the National Bank of Greece acted as co-lead managers of the issue.

Last week, the drinks bottler posted a slide in sales and profits for both its third quarter and the year so far.

The Greece-based soft drinks company said net profits for the three months to 2 October were 3% down on the corresponding period a year earlier at EUR206.1m (US$306m). Sales also fell, by 9% to EUR1.88bn as volumes decreased by 4% to 583.6m unit cases.