Less Than LIBORBy
The world’s largest soft-drink maker, which has been mixing its proprietary syrup with carbonated water since 1886, became the third borrower in the last five years to sell long-term debt below the London interbank offered rate when it issued $2.75 billion of bonds on March 9, according to data compiled by Bloomberg. The offering included $1 billion of two-year notes that pay interest at 5 basis points less than Libor.
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