...April 28, 2021 CHICAGO (S&P Global Ratings) April 28, 2021--S&P Global Ratings today assigned its 'A+' issue-level rating to Atlanta-based The Coca-Cola Co.'s (Coke) proposed euro-denominated senior unsecured notes due in 2030 and 2036 (final amounts to be determined). The group's parent will issue the notes, which will rank equally with its senior unsecured debt. Coke is drawing these notes under its shelf registration dated Oct. 24, 2019. The company intends to use the net proceeds from the offering, together with cash on hand, for the purchase of the euro tender offer notes tendered pursuant to the tender offers. Coke also expects to offer U.S. dollar-denominated notes under a separate prospectus supplement, together with cash on hand, for the purchase of the dollar tender offer notes. Neither offering is conditioned on completion of the other. We view this entire transaction as roughly leverage-neutral. The tender offers in aggregate are to purchase 2.2 billion (approximately $2.6 billion...
