UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 5, 2021
COCA COLA CO
(Exact name of Registrant as specified in its charter)
| Delaware | | 001-02217 | | 58-0628465 |
| (State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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| One Coca-Cola Plaza | | | | 30313 |
| Atlanta, Georgia | | | | (Zip Code) |
| (Address of principal executive offices) | | | | |
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Registrant’s telephone number, including area code: (404) 676-2121
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.25 Par Value | KO | New York Stock Exchange |
| 0.500% Notes Due 2024 | KO24 | New York Stock Exchange |
| 1.875% Notes Due 2026 | KO26 | New York Stock Exchange |
| 0.750% Notes Due 2026 | KO26C | New York Stock Exchange |
| 1.125% Notes Due 2027 | KO27 | New York Stock Exchange |
| 0.125% Notes Due 2029 | KO29A | New York Stock Exchange |
| 0.125% Notes Due 2029 | KO29B | New York Stock Exchange |
| 1.250% Notes Due 2031 | KO31 | New York Stock Exchange |
| 0.375% Notes Due 2033 | KO33 | New York Stock Exchange |
| 0.500% Notes Due 2033 | KO33A | New York Stock Exchange |
| 1.625% Notes Due 2035 | KO35 | New York Stock Exchange |
| 1.100% Notes Due 2036 | KO36 | New York Stock Exchange |
| 0.800% Notes Due 2040 | KO40B | New York Stock Exchange |
| 1.000% Notes Due 2041 | | New York Stock Exchange |
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
U.S. Dollar-Denominated Notes Offering
On May 5, 2021, The Coca-Cola Company (the “Company”) completed its previously announced public offering of $2,000,000,000 aggregate principal amount of its 2.250% Notes due 2032 (the “2032 notes”), $750,000,000 aggregate principal amount of its 2.875% Notes due 2041 (the “2041 notes”) and $700,000 aggregate principal amount of its 3.000% Notes due 2051 (the “2051 notes” and together with the 2032 notes and the 2041 notes, the “Dollar Notes”).
The offering of the Dollar Notes was made pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-234311) filed with the Securities and Exchange Commission (the “SEC”) on October 24, 2019.
The Dollar Notes were issued under an Amended and Restated Indenture, dated as of April 26, 1988 (as supplemented, the “Indenture”), between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee, as supplemented by the First Supplemental Indenture, dated as of February 24, 1992, and the Second Supplemental Indenture, dated as of November 1, 2007, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee. The 2051 notes constituted a further issuance of the Company’s 3.000% Notes due 2051, of which $1,000,000,000 aggregate principal amount was issued on March 5, 2021 (the “existing 2051 notes”) under the Indenture. The 2051 notes have the same CUSIP number and will trade interchangeably with the existing 2051 notes. The offering price of the 2051 notes included accrued interest from, and including, March 5, 2021 to, but excluding, the issue date of the 2051 notes, which was paid by the purchasers of the 2051 notes. After giving effect to the issuance of the 2051 notes, the Company now has $1,700,000,000 aggregate principal amount of 3.000% Notes due 2051 outstanding.
The Company intends to use the net proceeds from the offering of the Dollar Notes, together with cash on hand, for the purchase of certain of its outstanding U.S. dollar-denominated notes (the “Dollar Tender Offer Notes”) tendered pursuant to the Tender Offers (defined below) and the payment of related accrued and unpaid interest, premiums, fees and expenses and the redemptions of certain of the Dollar Tender Offer Notes that remain outstanding following the consummation of the Tender Offers, if applicable.
The Indenture and the forms of global note for the offering are filed as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.
Tender Offers
On May 5, 2021, the Company issued a press release announcing the pricing of the previously announced tender offers to purchase for cash any and all of certain of the Company’s debt securities (the “Tender Offers”). A copy of the press release is attached as Exhibit 99.1 and incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
In reviewing the agreements included as exhibits to this report, please remember they are included to provide you with information regarding their terms and are not intended to provide any other factual or disclosure information about the Company or the other parties to the agreements. The agreements contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the other parties to the applicable agreement and:
| | • | should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate; |
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| | • | may have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement; |
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| | • | may apply standards of materiality in a way that is different from what may be viewed as material to you or other investors; and |
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| | • | were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments. |
Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. Additional information about the Company may be found elsewhere in this report and the Company’s other public filings, which are available without charge through the SEC’s website at http://www.sec.gov.
| Exhibit No. | | Description |
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| 4.1 | | Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993. |
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| 4.2 | | First Supplemental Indenture, dated as of February 24, 1992, to Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993. |
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| 4.3 | | Second Supplemental Indenture, dated as of November 1, 2007, to Amended and Restated Indenture, dated as of April 26, 1988, as amended, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.3 of the Company’s Current Report on Form 8-K filed on March 5, 2009. |
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| 4.4 | | Form of Note for 2.250% Notes due 2032. |
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| 4.5 | | Form of Note for 2.875% Notes due 2041. |
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| 4.6 | | Form of Note for 3.000% Notes due 2051. |
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| 5.1 | | Opinion of Skadden, Arps, Slate, Meagher & Flom LLP regarding the validity of the Dollar Notes. |
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| 23.1 | | Consent of Skadden, Arps, Slate, Meagher & Flom LLP — included as part of Exhibit 5.1 hereto. |
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| 99.1 | | Press release, dated May 5, 2021, of The Coca-Cola Company. |
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| 104 | | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | THE COCA-COLA COMPANY |
| | (REGISTRANT) |
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| Date: May 5, 2021 | By: | /s/ Larry M. Mark |
| | | Name: Larry M. Mark |
| | | Title: Vice President, Global Finance Operations |
