ATLANTA (AP) -- The Coca-Cola Co. said on Wednesday that its offer to buy back up to $1.6 billion in debt expired on Tuesday after investors offered to sell back $1.05 billion in notes.
Because this amount does not exceed the $1.6 billion that Coca-Cola was willing to spend, the company will buy back all of the tendered debt. It expects to pay for them sometime on Wednesday.
Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. served as coordinating dealer managers, Bank of America Merrill Lynch and Goldman Sachs & Co. served as dealer managers and D.F. King & Co. Inc. served as the tender and information agent.
Shares of Coca-Cola rose 97 cents to $64.87 in afternoon trading.