Cott, DS Services to redeem 5 3/8% notes due 2022, 10% notes due 2021

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Cott Corp. subsidiaries Cott Beverages Inc. and DS Services of America, Inc. each issued a conditional redemption notice for one series of notes apiece, according to an 8-K filing with the Securities and Exchange Commission.

Cott Beverages is planning to redeem its $525 million of 5 3/8 notes due 2022 and DS Services its $250 million of outstanding 10% second-priority senior secured notes due 2021 on Nov. 27.

The Cott Beverages notes will be redeemed at 104.031 plus accrued interest to, but excluding, the redemption date.

The DS Services notes will be redeemed at 105 plus accrued interest to, but excluding, the redemption date.

Each redemption is conditioned upon closing the sale of Cott’s traditional business, consisting of its North American, United Kingdom and Mexico business units, and the finished goods export business of Royal Crown International to Refresco Group NV.

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

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