08:35 AM EDT, 05/20/2024 (MT Newswires) -- Coca-Cola Consolidated ( COKE ) said Monday it has commenced a tender offer to purchase up to $2 billion worth of common shares.

The company intends to fund the tender offer using a combination of cash on hand, borrowings under its revolving credit facility, borrowings under one or more new term loan facilities, as well as proceeds of an offering of senior unsecured notes.

The tender offer is expected to expire on June 18.

Shares of the company were up 2% in recent premarket trading activity.

Price: 955.74, Change: +18.74, Percent Change: +2.00