Coca-Cola HBC begins tendering for €500 million 7.875% notes due 2014

By Susanna Moon

Chicago, June 10 - Coca-Cola HBC Finance BV said it began a tender offer for its €500 million 7.875% notes due 2014.

The company is offering to pay 104.35% of par plus accrued interest for the notes.

The purpose of the offer is to retire the notes in order to lower the company's interest expense and improve its debt profile, the Amsterdam-based issuer said.

The offer is conditioned on the company's issue of new euro-denominated fixed-rate notes.

Holders must tender their notes by 11 a.m. ET on June 17. Settlement has been slated for June 18.

Holders must submit at least €50,000 nominal amount of notes, with integral multiples of €1,000 after that.

Citigroup Global Markets Ltd. (+44 20 7986 8969, attn.: liability management group, liabilitymanagement.europe@citi.com), Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763, attn: liability management group, liability.management@credit-suisse.com), Deutsche Bank AG, London Branch (+44 20 7545 8011, attn: liability management group, liability.management@db.com) and ING Bank NV (+32 2 557 16 01, attn: liability management, liabilitymanagement@ing.be) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880, attn: Yves Theis, cchbc@lucid-is.com) is the tender agent.

Coca-Cola HBC Finance is a subsidiary of Athens-based Coca-Cola Hellenic Bottling Co. SA.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.