By Cristal Cody
Tupelo, Miss., Aug. 26 – Coca-Cola Femsa SAB de CV priced $705 million of 1.85% green senior notes due Sept. 1, 2032 (A2/BBB+/A-) on Wednesday at a spread of Treasuries plus 120 basis points, according to a market source.
The notes were talked to price in the Treasuries plus 155 bps area with guidance tightened to Treasuries plus 125 bps.
The deal was upsized from $500 million.
BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
The company held fixed income investor calls for the issue on Tuesday.
Proceeds will be used to finance or refinance eligible green projects.
Coca-Cola Femsa is a beverage company based in Mexico City.
| Issuer: | Coca-Cola Femsa SAB de CV
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| Amount: | $705 million
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| Description: | Green senior notes
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| Maturity: | Sept. 1, 2032
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| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
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| Coupon: | 1.85%
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| Spread: | Treasuries plus 120 bps
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| Trade date: | Aug. 26
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| Ratings: | Moody’s: A2
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| S&P: BBB+
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| Fitch: A-
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| Marketing: | Fixed income investor calls
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| Price guidance: | Treasuries plus 125 bps; initial talk at Treasuries plus 155 bps area
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