Greek Coke bottler extends borrowing facility

Coca-Cola Hellenic (CCH), Coca-Cola’s No.2 bottler worldwide, extended its medium-term financing facility (EMTN) by one billion euros to three billion euros, the bottler said on Wednesday.

Analysts said the move allowed the firm more flexibility to carry out future investments and acquisitions.

“It’s the continuation of the existing financing facility through the issuance of bonds,» said a CCH official who declined to be named. The extension does not mean the firm will make full use of it, the official added.

CCH is rated A3 and A by Moody’s and Standard & Poor’s, respectively. With no bank loans, it has to refinance about 1.8 billion euros of debt by 2016.

[Reuters] – Ekathimerini.com