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Coty to offer $2B in senior unsecured notes

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Coty to offer $2B in senior unsecured notes

U.S. personal products company Coty Inc. said March 21 that it intends to offer about $2 billion senior unsecured notes in a private transaction.

Earlier in March, Coty reportedly launched an $8 billion debt refinancing.

The notes will be guaranteed on an unsecured basis by each Coty subsidiary, which will also be a guarantor under the proposed new senior secured credit facilities, the news release said.

According to the release, the proceeds from the offering will be used to repay in full and refinance its debt under its existing credit facilities. Remaining proceeds will be used for general corporate purposes, the company said.