Cott to sell $375 million eight-year notes for Cliffstar acquisition

By Paul A. Harris

St. Louis, Aug. 4 - Cott Beverages Inc., a wholly owned subsidiary of Cott Corp., plans to price a $375 million offering of eight-year senior notes on Wednesday, according to market sources.

Deutsche Bank Securities, J.P. Morgan Securities and Morgan Stanley are the joint bookrunners for the Rule 144A and Regulation S offering.

Barclays Capital is the co-manager.

The notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to fund a portion of the acquisition of Cliffstar Corp.

Additional financing will come in the form of bank debt and a $65 million offering of common stock.

Cott is a Mississauga, Ont.-based non-alcoholic beverage company. Cliffstar is a Dunkirk, N.Y.-based manufacturer, seller and distributor of non-alcoholic beverages, primarily private-label shelf-stable juices.

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