COTY INC. TO OFFER SENIOR SECURED NOTES
NEW YORK(BUSINESS WIRE)September 11, 2023Coty Inc. (NYSE: COTY) (Coty), one of the worlds largest beauty
companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, today announced that it, together with its wholly-owned subsidiaries, HFC Prestige Products, Inc. and HFC Prestige International U.S. LLC (the Co-Issuers and collectively with Coty, the Issuers), launched an offering of 500 million aggregate principal amount of senior secured notes (the Notes), subject to
market and customary conditions. The interest rates and other key terms of the Notes will be determined at the time of pricing.
will be senior secured obligations of the Issuers and will be guaranteed on a senior secured basis by each of Cotys subsidiaries (other than the Co-Issuers) that guarantee, and will be secured by first
priority liens on the same collateral that secures, Cotys obligations under Cotys existing senior secured credit facilities and senior secured notes. The collateral security will be released upon the Notes achieving investment grade
ratings from two out of the three ratings agencies.
Coty intends to use the net proceeds from the offering of the Notes to repay a
portion of the borrowings outstanding under Cotys revolving credit facility, without a reduction in commitment. Coty will use cash on hand to pay the offering expenses payable by it in connection with the offering of the Notes.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes. No offer,
solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
and the related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended (the Securities Act), or any applicable state or foreign securities laws, and will be offered only to persons reasonably
believed to be qualified institutional buyers in reliance on Rule 144A, and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. Unless so registered, the
Notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
About Coty Inc.
Founded in Paris in
1904, Coty is one of the worlds largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more
than 125 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to protecting the planet.