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Coca-Cola (KO; A1/A+) $ 3-part supply

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Coca-Cola (the concentrate maker, not bottler CCEP) is bringing 3-part supply with a new $10/30y and a tap of the 40Y {ZB918581 Corp}. Again coming 35-40 wide of secondary. Near term maturities all $ (front € is Sept 26s) and it did visit us in May including bringing a topical 20Y (topical for €s) which did well - pricing 27bps through the largest brewer AB-InBev for the 2-notch higher rating.

Might be of interest for those eyeing long-end risk. Box 10s30s UST/Bunds look around 7bps and oscillates around flat levels (i.e. US rates 7bps steeper out there - similar levels in swap curves).

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Coca-Cola (the concentrate maker, not bottler CCEP) is bringing 3-part supply with a new $10/30y and a tap of the 40Y {ZB918581 Corp}. Again coming 35-40 wide of secondary. Near term maturities all $ (front € is Sept 26s) and it did visit us in May including bringing a topical 20Y (topical for €s) which did well - pricing 27bps through the largest brewer AB-InBev for the 2-notch higher rating.

Might be of interest for those eyeing long-end risk. Box 10s30s UST/Bunds look around 7bps and oscillates around flat levels (i.e. US rates 7bps steeper out there - similar levels in swap curves).