US: Central European Distribution Corporation prices note offering

By just-drinks.com editorial team | 26 November 2009

Central European Distribution Corporation (CEDC) has detailed the pricing of its senior secured notes offering.

The US$380m aggregate principal amount of senior secured notes, due in 2016, will be sold to investors at a price of 99.366% of the principal amount and will bear interest at a rate equal to 9.125% per annum.

Meanwhile, the EUR380m aggregate principal amount of senior secured notes, also due in 2016, will be sold at a price of 99.361% of the principal amount and will bear interest at a rate equal to 8.875% per annum.

The closing of the offering, which is being made through through CEDC's Finance Corporation International subsidiary, is expected to occur on 2 December.

Earlier this month, the company said it intends to use the proceeds from the offering to fund the purchase of the remaining equity interests in Russian Alcohol Group from private equity firm Lion Capital, a deal that was initially announced in April.

Sectors: Spirits, Wine

Companies: Central European Distribution Corporation