Coty plans to pay down term loan with secured notes offering

By Mary-Katherine Stinson

Lexington, Ky., July 19 – Coty Inc. plans to use proceeds from a secured notes offering to repay a portion of the dollar-denominated loans outstanding under Coty’s senior secured term loan B credit facility due April 2025 and to pay any related premiums, fees and expenses, according to a press release.

The remainder of the term loan B is targeted to be fully prepaid by calendar year-end 2023 with a combination of cash generated from operations and revolving credit facility liquidity, the release said.

Coty is a New York-based beauty company.

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