Dr Pepper Snapple Group has raised $500 million in a sale of senior unsecured notes,
Reuters reports. The company intends to use the proceeds to redeem $475.7 million of the company’s bonds maturing in 2018, and for other general corporate purposes.
The soft drink maker appointed Bank of America Merrill Lynch, JP Morgan and UBS as the joint bookrunning managers for the deal. The notes carry a coupon rate of 2.900%, and are due to mature Jan. 15, 2016.
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