May 26, 2016 / 1:27 AM / 2 years ago

Coca-Cola hires for debut Kangaroo bond issue

SINGAPORE, May 26 (IFR) - The Coca-Cola Co, rated Aa3/AA-/A+, has hired banks to manage its debut in the Kangaroo bond market.

It has mandated ANZ, Deutsche Bank and RBC Capital Markets as joint active bookrunners for a potential offering of Australian dollar bonds.

Coca-Cola is the world’s largest beverage maker with the globe’s most recognisable brand name. Regional bottler Coca-Cola Amatil has previously sold bonds in the Australian dollar market.

Corporate bond issuance has been limited in Australia, but recently interest has picked up, following Kangaroo offerings from global blue chip names Apple and Intel.

The offering may launch soon, subject to market conditions. (Reporting By Kit Yin Boey; editing by Dharsan Singh and Daniel Stanton)

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