Coty Inc. Reports Early Results of $300 Million Notes Tender Offer

Coty Inc. has announced early results from its cash tender offer for a part of its outstanding 5.000% Senior Secured Notes maturing in 2026. Initially set at $250 million, the tender offer was increased to $300 million and is now fully subscribed.

As of November 20, 2024, $476.13 million in notes were validly tendered, exceeding the $300 million cap. Consequently, the notes will be purchased on a prorated basis, at a total consideration of $1,000 for each $1,000 principal amount, including an early tender premium of $30.

The tender offer will conclude on December 6, 2024, with final settlements expected by December 10. Coty will finance the purchase through available cash reserves and liquidity. The tender offer is part of Coty’s ongoing strategy to reduce debt.