By Cristal Cody
Eureka Springs, Ark., May 25 – Coca-Cola Co. sold $1,725,000,000 of senior notes (Aa3/AA-/A+) in three tranches on Wednesday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
The company priced $225 million of floating-rate notes due Nov. 16, 2017 at Libor plus 5 basis points.
In the second tranche, Coca-Cola sold $1 billion of 1.375% three-year notes at 32 bps over Treasuries, on the tight side of talk of 35 bps, plus or minus 3 bps, over Treasuries.
The final $500 million tranche of 2.55% 10-year notes priced on the tight side of guidance with a spread of 68 bps over Treasuries. The notes were talked at Treasuries plus 70 bps, plus or minus 2 bps.
Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
Coca-Cola is an Atlanta-based beverage company.
| Issuer: | Coca-Cola Co.
|
| Amount: | $1,725,000,000
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Pricing date: | May 25
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Fitch: A+
|
| Distribution: | SEC registered
|
|
|
| 18-month floaters
|
| Amount: | $225 million
|
| Maturity: | Nov. 16, 2017
|
| Coupon: | Libor plus 5 bps
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 30, 2019
|
| Coupon: | 1.375%
|
| Spread: | Treasuries plus 32 bps
|
| Price guidance: | Treasuries plus 35 bps, plus or minus 3 bps
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | June 1, 2026
|
| Coupon: | 2.55%
|
| Spread: | Treasuries plus 68 bps
|
| Price guidance: | Treasuries plus 70 bps, plus or minus 2 bps
|
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