By Mike Gambale
Oct 29 (IFR) - The Coca-Cola Co, rated Aa3, AA-/A+,announced a new five-part benchmark US dollar bond on Tuesday,sources on the deal told IFR.
The drinks giant is coming to market with a three-year fixedrate note and three-year floater, as well as fixed-rate tenorsof five, seven and 10 years.
Initial price thoughts have been set in the area ofTreasuries plus 35bps, 50-55bp, 70bp and 80bp for the fixed ratetranches in maturity order. Guidance on the three-year floateris Libor plus the equivalent spread on the three-year fixed.
It is Coca-Cola's first appearance in the US dollar bondmarket since February, when it raised USD2.5 billion in athree-part transaction.
Bank of America Merrill Lynch, Deutsche Bank, HSBC andMorgan Stanley are joint bookrunners on the new bond.