Coca-Cola has announced the pricing of a multi-tranche fixed-rate notes offering due in 2034, 2054, and 2064, with a total principal amount of $3 billion. The offering includes $1 billion of 2034 Notes at a 5.000% coupon, $1.1 billion of 2054 Notes at a 5.300% coupon, and $900 million of 2064 Notes at a 5.400% coupon. The notes were priced slightly below par, with yields to maturity ranging from 5.039% to 5.439%. The company has the option to redeem the notes before their respective maturity dates. Interest payments are scheduled semiannually, starting November 13, 2024. Coca-Cola intends to use the net proceeds for general corporate purposes, which may include working capital, capital expenditures, and potential payments related to tax litigation with the IRS. The offering is SEC registered, with trade and settlement dates...Show More

Coca-Cola has announced the pricing of a multi-tranche fixed-rate notes offering due in 2034, 2054, and 2064, with a total principal amount of $3 billion. The offering includes $1 billion of 2034 Notes at a 5.000% coupon, $1.1 billion of 2054 Notes at a 5.300% coupon, and $900 million of 2064 Notes at a 5.400% coupon. The notes were priced slightly below par, with yields to maturity ranging from 5.039% to 5.439%. The company has the option to redeem the notes before their respective maturity dates. Interest payments are scheduled semiannually, starting November 13, 2024. Coca-Cola intends to use the net proceeds for general corporate purposes, which may include working capital, capital expenditures, and potential payments related to tax litigation with the IRS. The offering is SEC registered, with trade and settlement dates set for May 6 and May 13, 2024, respectively. The notes have been rated A1 by Moody's and A+ by S&P. The underwriting syndicate is led by major financial institutions including Citigroup, Barclays, and Goldman Sachs. The offering is not contingent upon the completion of a concurrent expected offering of euro-denominated senior notes.