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FEMSA completes issuance of $1.5B senior notes

Fomento Económico Mexicano SAV de CV on Jan. 16 completed the issuance of $1.50 billion of senior unsecured notes due 2050.

The Coca-Cola Co. bottler known as FEMSA said the move will improve the cost of its debt. It plans to use the proceeds from the offering for general corporate purposes.

Mexico-based FEMSA added that the notes received credit ratings of A- from S&P Global Ratings and A from Fitch Ratings.