Summary by Futu AI
Coca-Cola has announced the entry into underwriting agreements for the issuance of U.S. dollar-denominated and Euro-denominated notes. On August 7, 2024, the company entered into an agreement with several underwriters, including Barclays Capital Inc. and Morgan Stanley, for a public offering of $3 billion in notes due between 2034 and 2064. The following day, Coca-Cola reached a similar agreement for the public offering of €1 billion in notes due 2037 and 2053. These offerings are expected to close on August 14 and 15, respectively, subject to customary closing conditions. The proceeds from the offerings are intended for general corporate purposes, which may include working capital and repayment of debts, among others. This move comes as part of Coca-Cola's broader financial strategy, as outlined in their shelf registration statement filed with the SEC in October 2022.