Alston & Bird advised the underwriters of Coca-Cola Co.’s largest-ever corporate bond sale, a $2.25 billion offering.
As for Atlanta-based Coca-Cola, they sought legal advice from Skadden, Arps, Slate, Meagher & Flom partner Richard B. Aftanas in New York.
Alston partner Hill Jeffries was lead counsel to the group of three underwriters, Banc of America Securities LLC, Citigroup Global Markets Inc. and HSBC Securities Inc. Partner Scott Ortwein and associates Brendan McGill, Scott Brown and Bethany Cooper also worked on the transaction.
Coca-Cola sold $900 million of 5-year notes at 3.625 percent, and $1.35 billion of 10-year notes at 4.875 percent, according to its prospectus. Coca-Cola will use the proceeds “to repay commercial paper and for general corporate purposes,” according to the prospectus. It’s the largest corporate bond sale in Coca-Cola’s history, according to Bloomberg News.