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MarketScreener Homepage  >  Equities  >  Nyse  >  The Coca-Cola Company    KO

THE COCA-COLA COMPANY

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COCA COLA CO : Other Events, Financial Statements and Exhibits (form 8-K)

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09/18/2020 | 04:56pm EDT
Item 8.01             Other Events.



Euro-denominated Notes Offering

On September 14, 2020, The Coca-Cola Company (the "Company") completed a public offering of €1,000,000,000 aggregate principal amount of its 0.125% Notes due 2029, €750,000,000 aggregate principal amount of its 0.375% Notes due 2033 and €850,000,000 aggregate principal amount of its 0.800% Notes due 2040 (collectively, the "Euro Notes").

In connection with the offering of the Euro Notes, the Company entered into an underwriting agreement, dated September 14, 2020 (the "Euro Notes Underwriting Agreement"), among the Company and the underwriters named therein (the "Euro Notes Underwriters"). Pursuant to the Euro Notes Underwriting Agreement, the Company agreed to sell the Euro Notes to the Euro Notes Underwriters, and the Euro Notes Underwriters agreed to purchase the Euro Notes for resale to the public. The Euro Notes Underwriting Agreement includes customary representations, warranties and covenants by the Company. It also provides for customary indemnification by each of the Company and the Euro Notes Underwriters against certain liabilities and customary contribution provisions in respect of those liabilities.

U.S. Dollar-denominated Notes Offering

On September 14, 2020, Company completed a public offering of $1,300,000,000 aggregate principal amount of its 1.000% Notes due 2028, $1,300,000,000 aggregate principal amount of its 1.375% Notes due 2031 and $1,500,000,000 aggregate principal amount of its 2.500% Notes due 2051 (collectively, the " Dollar Notes," and together with the Euro Notes, the "Notes").

In connection with the offering of the Dollar Notes, the Company entered into an underwriting agreement, dated September 14, 2020 (the "Dollar Notes Underwriting Agreement"), among the Company and Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Santander Investment Securities Inc., as representatives of the several underwriters named therein (together, the "Dollar Notes Underwriters"). Pursuant to the Dollar Notes Underwriting Agreement, the Company agreed to sell the Dollar Notes to the Dollar Notes Underwriters, and the Dollar Notes Underwriters agreed to purchase the Dollar Notes for resale to the public. The Dollar Notes Underwriting Agreement includes customary representations, warranties and covenants by the Company. It also provides for customary indemnification by each of the Company and the Dollar Notes Underwriters against certain liabilities and customary contribution provisions in respect of those liabilities.

The offerings of the Notes were made pursuant to the Company's shelf registration statement on Form S-3 (Registration No. 333-234311) filed with the Securities and Exchange Commission (the "SEC") on October 24, 2019.

The Notes were issued under an Amended and Restated Indenture, dated as of April 26, 1988 (as supplemented, the "Indenture"), between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee, as supplemented by the First Supplemental Indenture, dated as of February 24, 1992, and the Second Supplemental Indenture, dated as of November 1, 2007, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee.

The Company intends to use the net proceeds from the offerings of the Notes, together with cash on hand, if necessary, for the purchase of certain of its outstanding euro and U.S. dollar-denominated notes (together, the "Tender Offer Notes") and the payment of related accrued and unpaid interest, premiums, fees and expenses (the "Tender Offers") and the redemptions of certain of the Tender Offer Notes that remain outstanding following the consummation of the Tender Offers, if applicable.

The Euro Notes Underwriting Agreement, the Dollar Notes Underwriting Agreement, the Indenture and the respective forms of global note for the offerings are filed as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.



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Tender Offers



Attached as Exhibit 99.1 and incorporated herein by reference is a press release dated September 18, 2020 issued by the Company announcing the pricing of the previously announced Tender Offers.


Item 9.01             Financial Statements and Exhibits.



(d)    Exhibits


In reviewing the agreements included as exhibits to this report, please remember they are included to provide you with information regarding their terms and are not intended to provide any other factual or disclosure information about the Company or the other parties to the agreements. The agreements contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the other parties to the applicable agreement and:




·            should not in all instances be treated as categorical statements of

fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;




·            may have been qualified by disclosures that were made to the other

party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement;




·            may apply standards of materiality in a way that is different from

what may be viewed as material to you or other investors; and




·            were made only as of the date of the applicable agreement or such

other date or dates as may be specified in the agreement and are subject to more recent developments.

Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. Additional information about the Company may be found elsewhere in this report and the Company's other public filings, which are available without charge through the SEC's website at http://www.sec.gov.





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© Edgar Online, source Glimpses


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Financials (USD)
Sales 2020 33 011 M - -
Net income 2020 8 031 M - -
Net Debt 2020 36 661 M - -
P/E ratio 2020 25,7x
Yield 2020 3,41%
Capitalization 207 B 207 B -
EV / Sales 2020 7,37x
EV / Sales 2021 6,65x
Nbr of Employees 86 200
Free-Float 60,6%
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Technical analysis trends THE COCA-COLA COMPANY
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 21
Average target price 56,33 $
Last Close Price 48,06 $
Spread / Highest target 26,9%
Spread / Average Target 17,2%
Spread / Lowest Target 6,12%
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NameTitle
James Quincey Chairman & Chief Executive Officer
Brian John S. Smith President & Chief Operating Officer
John Murphy Chief Financial Officer & Executive Vice President
Nancy W. Quan Chief Technology Officer & Senior Vice President
Wamwari Waichungo Vice President-Scientific & Regulatory Affairs
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