TURKEY: Coca-Cola Icecek confirms three-year loan - report
Coca-Cola Icecek (CCI) received a loan of US$600m over three years
Coca-Cola Icecek (CCI) has received a loan of US$600m from ten banks over three years, according to reports.
The Turkey-based Coca-Cola bottler obtained the loan at 1.8 percentage points above benchmark rates, International Financing Review said yesterday (7 March). The cash has been used to refinance an existing $360m loan maturing in March 2013.
The loan will also finance new borrowing needs, CCI said.
Earlier this year, CCI reported a strong rise in soft drinks sales by volume for 2010. Volume sales increased by 13.5% for the 12 months to the end of December, to 665.4m cases.
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