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News Apr 19, 2018

Coca Cola European Partners’ Exchange Offers and Consent Solicitations

Shearman & Sterling advised Coca Cola European Partners plc (CCEP) on its offers to exchange certain U.S. dollar-denominated notes issued by its subsidiary, Coca-Cola European Partners US, LLC (CCEP US), for new notes issued by CCEP and guaranteed by CCEP US and cash, as well as related consent solicitations.  Concurrently, Shearman & Sterling also advised CCEP US on its solicitations of consents to substitute CCEP as the issuer and principal debtor and CCEP US as the guarantor under certain euro-denominated notes previously issued by CCEP US.

The exchange offers and consent solicitations were made to consolidate CCEP’s debt by aligning the obligor and guarantor of the notes with the most recent issuances of CCEP. By simplifying the capital structure of CCEP and its consolidated subsidiaries, the exchange offers reduced administrative complexity for CCEP.

CCEP is a leading consumer packaged goods company in Europe, producing, distributing and marketing an extensive range of non-alcoholic, ready-to-drink beverages. It is the world’s largest independent Coca-Cola bottler based on revenue.

The Shearman & Sterling team below was supported by associate Sarah Moir-Porteous (London-Tax).

The Team