Cott Announces Expiration of Tender Offer for 8.0% Senior Subordinated Notes Due 2011
November 30 2009 - 7:10AM
PR Newswire (US)
TORONTO and TAMPA, Fla., Nov. 30 /PRNewswire-FirstCall/ -- Cott
Corporation (NYSE: COT; TSX: BCB) announced today the expiration of
the previously announced cash tender offer and consent solicitation
(the "Tender Offer") by its wholly owned subsidiary, Cott Beverages
Inc. ("Cott Beverages"), for any and all of its 8.0% senior
subordinated notes due 2011 (the "8.0% Notes"). The Tender Offer
expired at 11:59 p.m., New York City time, on November 27, 2009. As
of the expiration date, Cott Beverages had received valid tenders
from holders of $237.1 million aggregate principal amount of 8.0%
Notes, or 95.5% of the total outstanding prior to the Tender Offer.
As previously announced, Cott Beverages purchased $236.7 million
aggregate principal amount of the 8.0% Notes, or 95.35% of the
total outstanding, which were validly tendered prior to the early
tender deadline of 5:00 p.m., New York City time, on November 12,
2009 (the "Early Participation Payment Deadline"). Holders who
validly tendered their 8.0% Notes after the Early Participation
Payment Deadline and prior to the expiration date of the Tender
Offer will receive total consideration of $975.00 per 8.0% Note
plus accrued and unpaid interest from the last payment date to, but
not including, the settlement date. Cott Beverages expects to make
payment today, November 30, 2009, for such 8.0% Notes. Following
the Tender Offer, there will be total of $11.2 million aggregate
principal amount of 8.0% Notes outstanding. This press release is
for informational purposes only and is not an offer to buy or the
solicitation of an offer to sell with respect to any securities.
The tender offer and consent solicitation were made pursuant to the
terms of the Offer to Purchase and Consent Solicitation Statement
dated October 29, 2009 and the related Letter of Instructions. None
of Cott Beverages, the dealer manager, the solicitation agent, the
information agent, the depositary or their respective affiliates
made any recommendation as to whether or not holders should tender
all or any portion of their 8.0% Notes in the Tender Offer or
deliver their consent to the proposed amendments. Cott Beverages
engaged Barclays Capital Inc. to act as dealer manager and
solicitation agent for the Tender Offer and MacKenzie Partners,
Inc. to act as information agent and depositary for the Tender
Offer. About Cott Corporation Cott Corporation is one of the
world's largest non-alcoholic beverage companies and the world's
largest retailer brand soft drink company. With approximately 2,800
employees, Cott Corporation operates bottling facilities in the
United States, Canada, the United Kingdom and Mexico. Cott
Corporation markets non-alcoholic beverage concentrates in over 50
countries around the world. Safe Harbor Statements This news
release contains forward-looking statements, including statements
regarding the completion of the Tender Offer and the consideration
to be paid to holders of the 8.0% Notes. These statements are based
on current expectations, forecasts and assumptions involving risks
and uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties include, but are
not limited to our ability to pay the Tender Offer consideration
and other risks, relevant factors and uncertainties identified in
our Annual Report on Form 10-K for the fiscal year ended December
27, 2008, subsequent Reports on Form 10-Q and Form 8-K and our
other securities filings. Cott Beverages disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: Cott Corporation CONTACT: Kimball Chapman, Cott
Corporation, Investor Relations, +1-813-313-1840,
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