Summary
On November 15, 2010, The Coca-Cola Company (KO) announced the completion of a significant public offering of new debt securities totaling $4.5 billion. This issuance includes Floating Rate Notes due in 2012, and fixed-rate notes maturing in 2013, 2015, and 2020, with varying coupon rates. The primary purpose of this debt issuance was to finance the Company's previously announced "Any and All Offer" and "Maximum Tender Offer" for certain of its outstanding debt securities and those of its subsidiary, Coca-Cola Refreshments USA, Inc. This strategic move aims to manage and optimize the company's existing debt structure. Additionally, the company announced adjustments to the pricing terms and an extension of the tender offer period, indicating active management of its financing activities.
Key Highlights
- 1Coca-Cola Co. completed a public offering of $4.5 billion in aggregate principal amount of new debt.
- 2The new debt consists of Floating Rate Notes due May 15, 2012, and fixed-rate notes due November 15, 2013, November 15, 2015, and November 15, 2020.
- 3Proceeds from the offering will be used to fund debt repurchases through "Any and All Offer" and "Maximum Tender Offer" programs.
- 4The company announced changes to the pricing terms of certain notes subject to the tender offers on November 16, 2010.
- 5The company also extended the term of the tender offers.
- 6The debt issuance was made under the company's shelf registration statement on Form S-3.