By Sarah Lizee
Olympia, Wash., Jan. 16 – Embotelladora Andina SA priced $300 million of 3.95% bonds due 2050 (expected BBB/BBB+) at a yield of 3.999%, or 175 basis points over the 30-year U.S. Treasury bond, according to a 6-K filing with the Securities and Exchange Commission.
Proceeds will be used for general corporate purposes and strengthening the company’s liquidity position, which may include financing potential acquisitions and debt repayment.
Based in Santiago, Chile, the company manufactures and bottles beverages.
| Issuer: | Embotelladora Andina SA
|
| Issue: | Bonds
|
| Amount: | $300 million
|
| Maturity: | 2050
|
| Coupon: | 3.95%
|
| Yield: | 3.999%
|
| Spread: | 175 bps over 30-year U.S. Treasury bond
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Expected ratings: | S&P: BBB
|
| Fitch: BBB+
|
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