Coca-Cola is selling €1bn of new debt that it may use to help pay potential charges arising from a decade-long dispute with US tax authorities, in which the company could owe $16bn.
The proceeds will add to the $7bn of new borrowing by the company this year, which it has said may go towards paying off charges relating to the dispute.
The US soft-drinks maker said on Thursday it planned to issue two €500mn bonds with the proceeds used in part “for making any potential payments in connection with our ongoing tax litigation with the [Internal Revenue Service].”
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