Coca-Cola Plans Biggest Bond Sale to Refinance Debt
This article is for subscribers only.
Coca-Cola Co., the world’s largest soft-drink maker, plans to sell $4.5 billion of bonds in its biggest offering to cut interest costs from debt it took on acquiring operations from bottler Coca-Cola Enterprises Inc.
The company is selling 3-year notes that may be priced near the record-low rate of 0.75 percent that Wal-Mart Stores Inc. got in an Oct. 18 sale, according to data compiled by Bloomberg. It also plans to issue 18-month notes, and 5- and 10-year debt, according to a person familiar with the transaction.