By Cristal Cody
Tupelo, Miss., Oct. 22 – The Coca-Cola Co. sold $4 billion of senior fixed-rate notes due 2017, 2020 and 2025 (Aa3/AA/A+) on Thursday, according to a market source.
The company priced $750 million of 0.875% two-year notes at 99.956 to yield 0.897%. The notes priced with a spread of 30 basis points over Treasuries.
The $1.5 billion tranche of 1.875% five-year notes was sold at 99.824 to yield 1.912% and with a spread of 57 bps over Treasuries.
Coca-Cola also priced $1.75 billion of 2.875% 10-year notes at 99.845 to yield 1.893%. The notes priced with a spread of 87 bps over Treasuries.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds from the deal will be used for general corporate purposes.
Coca-Cola is an Atlanta-based beverage company.
| Issuer: | Coca-Cola Co.
|
| Amount: | $4 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Trade date: | Oct. 22
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| Two-year notes
|
| Amount: | $750 million
|
| Maturity: | 2017
|
| Coupon: | 0.875%
|
| Price: | 99.956
|
| Yield: | 0.897%
|
| Spread: | 30 bps over Treasuries
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | 2020
|
| Coupon: | 1.875%
|
| Price: | 99.824
|
| Yield: | 1.912%
|
| Spread: | 57 bps over Treasuries
|
|
|
| 10-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | 2025
|
| Coupon: | 2.875%
|
| Price: | 99.845
|
| Yield: | 1.893%
|
| Spread: | 87 bps over Treasuries
|
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