Summary by Moomoo AI
Coca-Cola (KO.US) has filed a preliminary prospectus supplement with the SEC, indicating that the company may offer various securities, including notes due in 2034, 2054, and 2064. The prospectus supplement, dated May 2024, is subject to completion and outlines the potential issuance of % Notes with interest rates and payment details to be determined. The notes, referred to as '2034 notes,' '2054 notes,' and '2064 notes,' will be unsecured obligations ranking equally with Coca-Cola's senior indebtedness. The company plans to pay interest semi-annually, with the first payment commencing in 2024, and may redeem the notes at any time at the applicable redemption price. The notes will be issued in minimum denominations of $2,000 and will not be listed on any securities exchange. The offering is part of a broader financial strategy, and the proceeds are intended for general corporate purposes, which may include working capital, capital expenditures, and potential payments related to ongoing tax litigation with the IRS. The joint book-running managers for the offering are Citigroup, Barclays, and Santander.