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Coca-Cola Enterprises delays $1 billion note offering on ratings view
By Andrea Heisinger
New York, Oct. 28 - Coca-Cola Enterprises Inc. delayed a $1 billion offering of unsecured notes due 2014 Tuesday afternoon after all the companies in the Coca-Cola Co. complex had their ratings outlooks reduced by Standard & Poor's.
S&P dropped the company's outlook to negative.
The company launched the $1 billion issue earlier in the day at 462.5 basis points over Treasuries.
Bookrunners are Banc of America Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities and Deutsche Bank Securities.
Proceeds will be used for general corporate purposes, including repayment of outstanding debt.
The marketer, distributor and producer of Coca-Cola products is based in Atlanta.
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