Coca-Cola starts tender offer for three series of dollar, euro notes

Chicago, March 1 – Coca-Cola Co. launched any-and-all tender offers for two series of dollar notes and one series of euro notes on Monday, according to a news release.

Notes

Coca-Cola is offering to buy any and all of the following:

• $1.5 billion 3.2% notes due 2023 (Cusip: 191216BE9) to be repurchased at par plus a premium, with pricing to be determined using the 1.625% Treasury due Oct. 31, 2023 plus a fixed spread of 10 basis points;

• $750 million 2.5% notes due 2023 (Cusip: 191216AZ3) to be repurchased at par plus a premium, with pricing to be determined using the 1.5% Treasury due March 31, 2023 plus a fixed spread of 10 bps; and

• €1.5 billion 0.75% notes due 2023 (ISIN: XS1197832915) to be repurchased at par plus a premium, with pricing to be determined based on the 1.5% German Bobl due Feb. 15, 2023 plus a fixed spread of 10 bps.

Interest will also be paid.

Details

Coca-Cola is conducting the offers at the same time as proposed new registered offerings of senior notes denominated in both dollars and euros.

Funding for the tender offers will come from the new notes and cash on hand, if necessary.

The offers are subject to financing conditions, contingent on Coca-Cola selling sufficient amounts of notes in the new offers to fund the tender offers.

Pricing will be determined at 10 a.m. ET on March 5.

The expiration time of the offers and the withdrawal deadline is 5 p.m. ET on March 5.

The guaranteed delivery date is March 9.

Settlement for the dollar notes is planned for March 8. Settlement for the euro notes is expected on March 10.

Settlement for tenders under guaranteed delivery is scheduled for March 10.

Barclays (Barclays: 212 528-7581, 800 428-3242, liability.management@barclays.com; Barclays Bank: +44 20 3134 8515), Goldman Sachs & Co. LLC (212 902-6351, GS-LM-NYC@gs.com) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442) are the dealer managers for the offer.

D.F. King & Co. Ltd. is the information agent and tender agent (866 620-2536, 212 269-5550, +44 20 7920 9700, ko@dfking.com, http://www.dfking.com/ko).

Coca-Cola is an Atlanta-based total beverage company.

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