Coca-Cola Embonor places bonds for about US$122 million

May 31, 2023 (press release) –

Coca-Cola Embonor S.A. successfully completed the placement of bonds for UF 2,500,000 in the local capital market, equivalent to approximately US$112 million .

In a press release, the company informed that the transaction was advised by LarrainVial as structuring and placement agent, and Barros & Errázuriz as legal advisors. It was carried out through the placement of BKOEM series G bonds for a term of 18.5 years with bullet amortization at maturity and at a rate of UF + 3.39%, a spread of 139 basis points over the reference rate. The offering was made through a Dutch auction and generated a demand of 1.6 times the amount placed.

A diversified investor base participated in the placement, including pension funds, mutual funds, insurance companies and investment funds, among others. The risk rating of the bonds placed by the company is AA granted by Feller-Rate and ICR.

Approximately 65% of the proceeds of this placement will be used to refinance bank financial liabilities and 35% to finance the long-term investment plan.

Cristián Hohlberg, CEO of the company, emphasized that "the high demand and good price we received for this placement is a sign of the market's confidence in Coca-Cola Embonor S.A. The company has demonstrated consistent growth throughout its 60 years of successful history and capacity to continue developing the operation of brands franchised by The Coca-Cola Company and other leading brands, both in Chile and Bolivia . This issuance strengthens the company's liquidity and is in line with its long-term financial and investment plan.