debt
confidence high
sentiment neutral
materiality 0.55
Coty launches €500M senior secured notes offering to redeem 6.500% 2026 notes
COTY INC.
- Offering of €500M aggregate principal amount senior secured notes; terms set at pricing.
- Proceeds to redeem all existing 6.500% Senior Notes due 2026 and repay revolver borrowings.
- Notes guaranteed on senior secured basis by Coty subsidiaries; secured by first priority liens.
- Collateral releases automatically upon achieving investment grade from two of three ratings agencies.
- Offering exempt from registration; sold to QIBs and non-U.S. persons under Rule 144A/Reg S.