The tender offer for Cott Corporation's 8% senior subordinated notes, due in 2011, has expired.

The company, which issued the notes for its Cott Beverages subsidiary, said yesterday (30 November) that the offer expired on Friday (27 November), with the unit receiving tenders of US$237.1m. The amount represents just over 95% of the total outstanding prior to the offer.

Earlier this month, Cott Beverages purchased $236.7m of the 8.0% notes, or 95.35% of the total outstanding, which were tendered prior to the early deadline of 12 November.

Holders who tendered their notes after the early participation payment deadline will receive $975 per 8.0% note. Cott Beverages said it would make payment yesterday.

Following the offer, there will be $11.2m of 8.0% notes outstanding.