Dr Pepper Snapple Raises $500M

Dr Pepper Snapple Grouphas raised $500 million in a sale of senior unsecured notes,

Reutersreports. 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 appointedBank of America Merrill Lynch,JP MorganandUBSas 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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