NEW YORK - No one had to wait long to find out if another company would follow Walt Disney Co. and sell 100-year bonds. Coca-Cola Co. did it today, just one day after Disney.
Coke sold $150 million worth of debentures due on 2093 at an interest cost of 7.455 percent. Disney paid a bit more for its $300 million issue, 7.55 percent. Unlike the Disney issue, the Coke debentures aren't callable. Disney bonds can be called in 30 years.
Companies have been extending the maturities of their debt, locking up today's low interest rates for uncommonly long periods. But Disney and Coke are borrowing for twice the length of time as any of the others has.