ATLANTA (dpa-AFX) - The Coca-Cola Company (KO) Wednesday announced the pricing of its offer to exchange specified series of outstanding debt securities issued by Coca-Cola Refreshments USA, for a combination of debt securities to be issued by the company and cash.
Coca-Cola Refreshments USA, Inc. or CCR is a wholly-owned subsidiary of Coca-Cola Company.
The exchange offer is scheduled to expire at midnight, New York City time, on August 30, 2011, unless extended or earlier terminated.
CCR 7.375% notes due 2014, 4.25% notes due 2015, 5.00% notes due 2013, 3.75% notes due 2012, and 8.50% notes due 2012 are proposed to be exchanged for tendered for 1.80% notes due 2016. The notes would be excahnged for $1,000 Principal amount of 2016 notes and cash, excluding net accrued interest of $158.24, $103.65, $75.82, $4.65, and $23.28 respectively.
CCR notes tendered for 3.30% notes due 2021 are 8.50% notes due 2022, 8.00% notes due 2022, 6.75% notes due 2023, 7.125% notes due 2017, 4.50% notes due 2019, 7.00% notes due 2026, 6.95% notes due 2026, 6.75% notes due 2028, 6.70% notes due 2036, 6.75% notes due 2038. The notes would be exchanged for $1000 Principal amount of 2021 Notes and cash, excluding net accrued interest of $475.29, $441.90, $345.37, $282.94, $130.67, $326.28, $322.69, $313.38, $354.90, and $373.59 respectively.
The Zero Coupon Notes due 2020 would be exchanged for $485.38 Principal amount of 2021 Notes and cash, excluding net accrued interest of $305.71.
The 2016 Notes will constitute a further issuance of, form a single series with, and have the same CUSIP numbers as, the 1.80% notes due 2016 that the Company issued for cash on August 10, 2011. The 2021 Notes will constitute a further issuance of, form a single series with, and have the same CUSIP numbers as, the 3.30% notes due 2021 that the Company issued for cash on August 10, 2011.
The New Note Value for the 2016 notes would be $1,014.30 per $1,000 principal amount. The New Note Value for the 2021 notes would be $1,034.76 per $1,000 principal amount.
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