Cott to repay asset-based facility borrowings with notes proceeds

By Sara Rosenberg

New York, June 10 – Cott Beverages Inc. plans on repaying outstanding loans under its asset-based credit facility using a portion of the proceeds from a $525 million senior notes offering, according to a news release.

Remaining proceeds from the notes will be used to fund a tender offer for 8 1/8% senior notes due 2018 and for general corporate purposes.

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

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