CANADA / US: Cott Corp plots debt refinancing
Cott Corp has announced a debt exchange plan to help the private label soft drinks giant maintain financial flexibility.
Cott Corp will offer US$200m in senior notes due 2017 to qualified institutional investors in the US, the group said today (29 October).
It will use the proceeds to pay for a tender offer to buy up 8% of senior subordinated notes due in 2011.
Investors who take up the tender offer before 12 November, will get an "early participation payment" of $30.00 per $1,000 principal amount of the notes. The offer ends on 27 November.
Soft drinks firm Cott Corporation swung to full-year profits in 2009 and has said it expects to win more new business in 2010....
Moody's Investors Service has upgraded Canadian soft drink maker Cott Corp's credit rating on the strength of its recent operating performance....
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