Coca-Cola Amatils floating-rate notes will mature in 2018

Coca-Cola Amatil's floating-rate notes will mature in 2018

Coca-Cola Amatil (CCA) has raised NZ$50m (US$53.5m) from the sale of floating-rate notes.

The seven-year notes will mature in August 2018, CCA confirmed to just-drinks today (1 September). The interest rate is 128 percentage points over the three-month settlement rate set by Bank of New Zealand.

"The medium term notes are guaranteed by Coca-Cola Amatil, which is rated A3/A-," a spokesperson for CCA said. "The notes are unsecured and meet the general financing requirements of the company. This is nothing out of the ordinary, and the CCA Group issues debt under various programmes including domestic programmes in Australia and New Zealand and offshore programmes where we have issued to investors in Europe, the US and Asia.

"We utilise the various markets to provide the CCA Group with a diversified maturity profile and keep our borrowing margins and funding costs to a minimum," the spokesperson added.

Earlier this month, Coca-Cola Amatil saw its half-year profits damaged by an impairment charge on its fruit and vegetable business.