Cott to upsize credit facility through amendment or refinancing

By Sara Rosenberg

New York, Aug. 4 - Cott Corp. plans to amend or refinance its asset-based credit facility to increase the size in connection with its acquisition of Cliffstar Corp., according to a news release.

The acquisition will be funded with borrowings under the credit facility, proceeds from the sale of $375 million of senior notes and proceeds from a $65 million common shares offering.

Cott is a Mississauga, Ont.-based non-alcoholic beverage company. Cliffstar is a Dunkirk, N.Y.-based manufacturer, seller and distributor of non-alcoholic beverages, primarily private-label shelf-stable juices.

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