CORPORATES

摘要

COCA-COLA has become the latest corporate borrower to take advantage of attractive funding costs to refinance high-coupon paper, with a US$4.65bn-equivalent debt raising across euros and US dollars. The beverage company, rated A1/A+, raised €lbn in euros, before turning on Wednesday to the US for a US$3.45bn three-part deal, which will be used to fund tender offers for €2.2bn of euro benchmarks and US$4.25bn of dollar bonds. "The market is very strong, but you have to remember a lot of these companies, the big regular issuers, have a lot of cash which will weigh on issuance," said a banker, adding that there are opportunities available to corporates willing to be proactive in refinancing their debt.