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US: Coca-Cola Co readies US$2.5bn note pricing

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The Coca-Cola Co has lined up the issue of US$2.5bn-worth of notes to help fund the redemption of three sets of notes in the next two years.

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The company, which late last week bought up more of UK smoothie maker Innocent, released the pricings late yesterday (28 February). The three tranches comprise:

  • $500m of floating rate notes due 2015
  • $1.25bn of 1.15% notes due 2018, and
  • $750m of 2.50% notes due 2023

The transaction, which should close on 5 March, will cover the payments of three other sets of notes:

  • 5% notes due later this year
  • 7.375% notes due in 2014, and
  • 4.25% notes due in 2015

Any remaining funds from the new notes will go towards “general corporate purposes”, Coca-Cola said.


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