Coca-Cola prices tender offers for nine series of dollar, euro notes

By Sarah Lizee

Olympia, Wash., Sept. 18 – Coca-Cola Co. announced pricing of its tender offers for any and all of five series of dollar notes and four series of euro notes, according to two press releases.

Dollar notes

The following dollar notes are included in the offer:

• $1,324,430,000 3.3% notes due 2021 (Cusips: 191216AV2; 191216AT7; U19121AH2) with pricing set using the 1.125% Treasury due Aug. 31, 2021 plus 10 basis points for a total consideration of $1,028.84 per $1,000 of notes;

• $1 billion of 1.55% notes due 2021 (Cusip: 191216BY5) with pricing set using the 1.125% Treasury due Aug. 31, 2021 plus 10 bps for a total consideration of $1,012.34 per $1,000 of notes;

• $500 million of 2.2% notes due 2022 (Cusip: 191216CF5) with pricing set using the 0.125% Treasury due May 31, 2022 plus 7.5 bps for a total consideration of $1,033.24 per $1,000 of notes;

• $500 million of 4.125% notes due 2040 (Cusip: 91216CP3) with pricing set using the 1.25% Treasury due May 15, 2050 plus 70 bps for a total consideration of $1,316.38 per $1,000 of notes; and

• $1.25 billion of 4.2% notes due 2050 (Cusip: 191216CQ1) with pricing set using the 1.25% Treasury due May 15, 2050 plus 105 bps for a total consideration of $1,357.42 per $1,000 of notes.

Euro notes

The following euro notes are included in the offer:

• €750 million of floating-rate notes due 2021 (Cusip: AX3944839) with pricing set at €1,003 per €1,000 of notes;

• €500 million of 0% notes due 2021 (Cusip: 191216CC2) with pricing set using the 2.5% German BOBL due Jan. 4, 2021 plus 15 bps for a total consideration of €1,003.06 per €1,000 of notes;

• €1 billion of 0.125% notes due 2022 (Cusip: AX3944847) with pricing set using the 1.75% German BOBL due July 4, 2022 plus 10 bps for a total consideration of €1,014.88 per €1,000 of notes; and

• €800 million of 1.125% notes due 2022 (Cusip: 191216BJ8) with pricing set using the 1.5% German BOBL due Sept. 4, 2022 plus 10 bps for a total consideration of €1,035.38 per €1,000 of notes.

Holders will also receive accrued interest.

Notes tendered per $1,000 note must be made in minimum denominations of $2,000 and in integral multiples of $1,000 after that, and notes tendered per €1,000 note in minimum denominations of €100,000 and in integral multiples of €1,000 after that.

Pricing was be set at 10 a.m. ET on Sept. 18.

The offers will expire at 5 p.m. ET on Sept. 18.

Settlement is set for Sept. 23.

Tendered notes may be withdrawn before the deadline.

The tender offers are subject to and are being made alongside the company’s proposed offering of three series of notes with maturities in 2028, 2031 and 2051, as well as a concurrent offering of euro-denominated notes. Proceeds from the new dollar notes will be used to fund the dollar tender offer, and proceeds from the new euro notes will be used to fund the euro tender offer.

The tender and information agent is D.F. King & Co. Inc. (+44 20 7920 9700, 877 478-5040, 212 269-5550, ko@dfking.com).

The dealer managers are BofA Securities (980 286-5958, +44 20 7996-5420, debt_advisory@bofa.com, DG.LM-EMEA@bofa.com), Citigroup Global Markets (800 558-3745, 212 723-6106, +44 20 7986 8969, liabilitymanagement.europe@citi.com) and J.P. Morgan Securities (866 834-4666, 212 834-8553, +44 20 7134-2468, liability_management_EMEA@jpmorgan.com).

Coca-Cola is an Atlanta-based beverage company.

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