Coca-Cola pops cap on week’s euro issuance

Mexico, Coca-Cola Femsa, 575, bottling, Covid testing, LatAm
By Mike Turner
01 Mar 2021

Coca-Cola, the US beverage company, kicked the issuance week off in the European corporate market, with the borrower landing flat to fair value on two out of three tranches.

Coca-Cola, rated A1/A+, opened books on a March 2029 at 65bp over mid-swaps, a March 2033 at 75bp over and a March 2041 at 95bp over.

At initial price thoughts, the two shorter tranches were around 25p back from fair value, while the longest tranche was 25p to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial