By Cristal Cody
Tupelo, Miss., March 14 – Coca-Cola Bottling Co. Consolidated (Baa2/BBB) sold $150 million of 3.96% senior notes due 2030 (Aa3/AA-/A+) off a private shelf facility to NYL Investors LLC and certain of its affiliates, according to an 8-K filing with the Securities and Exchange Commission.
The notes will mature on the 12th anniversary of the closing date, unless earlier redeemed by the company.
Coca-Cola Bottling agreed on Monday to the sale of the notes on or before the March 21 closing date.
Proceeds from the deal will be used for general corporate purposes.
Coca-Cola Bottling is an independent Coca-Cola bottling company based in Charlotte, N.C.
| Issuer: | Coca-Cola Bottling Co. Consolidated
|
| Amount: | $150 million
|
| Description: | Senior notes
|
| Maturity: | 2030
|
| Coupon: | 3.96%
|
| Investor: | NYL Investors LLC and certain affiliates
|
| Call feature: | Make-whole call at Treasuries plus 50 bps
|
| Trade date: | March 12
|
| Settlement date: | March 21
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Distribution: | Private shelf
|
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