Business
Coca-Cola FEMSA raises $580 million in Mexican bond sale
Coca-Cola FEMSA raises $580 million in Mexican bond sale
About this update from Coca-cola Femsa Sab De Cv Units Cons Of 5 Shs -l- + 3 Shs Series -b-
Mexican retailer Coca-Cola FEMSA BMV:KOF/UBL has placed a dual-tranche bond offering in the national market worth 10 billion pesos ($581.73 million), the company said.The company sold 7 billion pesos in 10-year fixed-rate bonds with a coupon of 9.12%.A second tranche of 3 billion pesos was issued with a three-year term at a variable rate.Coca-Cola FEMSA said the proceeds would be used for general corporate purposes, including the refinancing of debt maturities.The issuance had an oversubscription of 3.84 times.($1 = 17.1900 Mexican pesos)