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Coty driving by with $500 million seven-year secured notes; initial talk high 4% area
By Paul A. Harris
Portland, Ore., Nov. 22 – Coty Inc. plans to price a $500 million offering of senior secured notes due Jan. 15, 2029 (B1/B+) in a Monday drive-by, according to market sources.
Initial guidance is in the high 4% area.
BofA Securities Inc. is leading the sale.
The Rule 144A and Regulation S notes become callable at a premium on Jan. 15, 2025.
The issuing entities will be HFC Prestige Products, Inc. and HFC Prestige International U.S. LLC, wholly owned subsidiaries of Coty, a New York-based beauty company.
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