Cott to raise $615 mln of senior notes to fund buy of PE-backed DSS
A subsidiary of Canadian beverage producer Cott Corp (TSX: BCB) (NYSE: COT) intends to offer $615 million of senior notes to qualified institutional buyers and non-U.S. individuals. Proceeds of the offering are expected to help finance the cost of Cott's proposed US$1.25 billion acquisition of DSS Group Inc, the parent of DS Services of America Inc, a U.S.-based distributor of bottled water and coffee. Cott plans to finance the rest of the transaction through its asset-based lending facility and a private offering to current DSS investors. DSS is backed by U.S. private equity firm Crestview Partners.
1 December 2014•3 mins read
