Cott plans to repay asset-based facility with common share proceeds

By Tali Rackner

Norfolk, Va., March 1 – Cott Corp. plans to repay a portion of the borrowings under its asset based lending facility with the proceeds from a $131 million common share offering, according to a press release.

Proceeds will also be used to finance potential acquisitions and for general corporate purposes.

The offering is expected to close on March 9.

Cott is a beverage company based in Mississauga, Ont., and Tampa, Fla.

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