Remy Cointreau solicits consents to amend 6½% notes

New York, June 6 - Rémy Cointreau SA said it has begun soliciting consents from holders of its 6½% senior notes due 2010 to waive a provision limiting asset sales.

The proposed change would apply only to the company's proposed sale of its 50% stake in Botapol Holding BV and would waive the requirement in the note covenants that at least 75% of the payment for asset sales be received in cash or cash equivalents.

Remy Cointreau announced on April 19 that it had agreed to sell its Botapol stake to Central European Distribution Corp. for cash and Central European stock totaling $135 million.

A general meeting to approve the change will be held at 5:30 a.m. ET on June 23.

If the change is passed, the company will pay €5.00 per €1,000 principal amount to noteholders.

The Paris-based maker of distilled spirits needs consents from holders of a majority of the notes to amend the covenants.

Voting instructions are due to paying agent BNP Paribas Securities Services (+33 1 40 14 37 05) by 11 a.m. ET on June 20.

D.F. King & Co., Inc. is information agent (800 431-9642, call collect 212 269-5550 or +44 (0) 20 7920 9700). The solicitation agents are Banc of America Securities LLC (888 292-0070 or 212 847-5834) and Bank of America Securities Ltd. (+44 (0) 20 7174 5318).

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