KOF Jumbo Tops $2bn as Investors Rush for Bonds

Nov 20, 2013

Coca-Cola Femsa (KOF) returned to the dollar bond market to issue $2.15bn Tuesday, in a triple-tranche transaction that lengthened the company’s curve to 30 years. Investors were said to place more than $6.5bn of orders across the three tranches from the A/A2/A minus Mexican bottler. The 5-year is understood to have generated most demand at $3bn. The strong appetite allowed lead managers Bank of Tokyo-Mitsubishi UFJ (BTMU), Citi, Goldman Sachs, HSBC and JPMorgan to tighten pricing by 20bp on the 5-year and 15bp on...

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