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Coca-Cola HBC Finance BV is raising at least \u20ac1.5 billion ($1.7 billion) of debt on Thursday to help fund an acquisition of another drinks bottling firm.<\/p>\n
The finance entity of Coca-Cola HBC AG is in the market with a three-part euro offering across maturities of 2.5 years, 4.5 years and 7.5 years, according to a person familiar with the matter. The two longer maturities will be used to fund the acquisition in Coca-Cola Beverages Africa, as well as for general corporate purposes.<\/p>\n
Coca-Cola HBC agreed to buy a 75% controlling stake in the African bottling company from The Coca-Cola Co and a family owner \u2014 Gutsche Family Investments \u2014 for $2.6 billion, and the deal includes an option to buy the rest within six years.<\/p>\n
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Coca-Cola HBC handles the manufacturing, bottling and distribution of drinks products and is a separate entity to The Coca-Cola Co., which owns the brand and makes the syrup concentrate. The Coca-Cola Co. is moving away from the business of bottling, having also sold a stake in its Indian operations last year.<\/p>\n
The bond offering is the latest in a flurry of activity in European primary debt, despite the elevated risk levels in the market with the conflict in the Middle East. New issuance has been limited with a stop-start pace in recent weeks.<\/p>\n
The Coca-Cola HBC Finance BV bonds are expected to be rated Baa1 by Moody\u2019s Ratings and BBB+ by S&P Global Ratings, and are set to price later today.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#CocaCola #bottler #raising #euro #bonds #buy #Africa #business<\/p>\n","protected":false},"excerpt":{"rendered":"
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