TORONTO and TAMPA, FL, Oct. 26,
2017 /CNW/ - Cott Corporation (NYSE:COT; TSX:BCB)
announced today that (i) its wholly owned subsidiary, Cott
Beverages Inc. ("CBI"), gave notice to Wells Fargo Bank,
National Association, the trustee (the "CBI Trustee")
under the Indenture (the "CBI Notes Indenture") governing
its $525,000,000 aggregate principal
amount of 5.375% Senior Notes due 2022 (the "CBI Notes") of
its intent to conditionally redeem all of the outstanding CBI Notes
on November 27, 2017 (the
"Redemption Date"), and (ii) its wholly owned subsidiary, DS
Services of America, Inc. ("DS Services"), gave notice to
Wilmington Trust, National Association, the trustee (the "DSS
Trustee") and the collateral agent under the Indenture (the
"DS Indenture") governing its $250,000,000 aggregate principal amount of
10.000% Second-Priority Senior Secured Notes due 2021 (the "DSS
Notes" and, together with the CBI Notes, the "Notes") of
its intent to conditionally redeem all of the outstanding DSS Notes
on the Redemption Date.
The redemption price of the CBI Notes, as set forth in the CBI
Notes Indenture, is equal to 104.031% of the principal amount of
such CBI Notes redeemed, plus accrued and unpaid interest thereon,
if any, to, but excluding, the Redemption Date. The redemption
price of the DSS Notes, as set forth in the DS Indenture, is equal
to 105.000% of the principal amount of such DSS Notes redeemed,
plus accrued and unpaid interest thereon, if any, to, but
excluding, the Redemption Date.
The redemptions of the CBI Notes and the DSS Notes are each
conditioned upon the closing of the previously disclosed sale of
Cott's traditional business (consisting of Cott's North America, United Kingdom and Mexico business units (including the Canadian
business) and the finished goods export business of Royal Crown
International ("RCI") but excluding RCI's other businesses,
the Columbus facility and Aimia) to Refresco Group N.V. (the
"Purchaser"), pursuant to the Share Purchase Agreement,
dated as of July 24, 2017 (as such
agreement may be amended, supplemented or otherwise modified),
among the Purchaser, Cott and certain other parties thereto.
CBI and DS Services have instructed the CBI Trustee and the DSS
Trustee, respectively, to send a notice of conditional full
redemption in the name of CBI and DS Services, respectively, to all
currently registered holders of the CBI Notes and DSS Notes,
respectively.
This press release is for informational purposes only and does
not constitute an offer to purchase the Notes or any other
securities.
ABOUT COTT CORPORATION
Cott is a diversified beverage company with a leading
volume-based national presence in the North America and European home and office
bottled water delivery industry, a leader in custom coffee roasting
and blending of iced tea for the U.S. foodservice industry, and a
leader in the production of beverages on behalf of retailers, brand
owners, and distributors. Our platform reaches over 2.3
million customers or delivery points across North America and Europe supported by strategically located
sales and distribution facilities and fleets, as well as
wholesalers and distributors. This enables us to efficiently
service residences, businesses, restaurant chains, hotels and
motels, small and large retailers, and healthcare facilities.
Safe Harbor Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding the completion of the conditional full redemptions of the
Notes. Forward-looking statements involve inherent risks and
uncertainties and Cott cautions you that a number of important
factors could cause actual results to differ materially from those
contained in any such forward-looking statement. The
forward-looking statements are based on assumptions regarding
management's current plans and estimates. Management believes these
assumptions to be reasonable but there is no assurance that they
will prove to be accurate. Factors that could cause actual results
to differ materially from those described in this press release
include those risks and uncertainties indicated from time to time
in Cott's filings with the Securities and Exchange Commission (the
"SEC"). Readers are cautioned not to place undue reliance on
any forward-looking statements, which speak only as of the date
hereof. Readers are urged to carefully review and consider the
various disclosures, including, but not limited, to risk factors
contained in Cott's Annual Report on Form 10-K and its other
periodic reports filed with the SEC. Cott does not undertake to
update or revise any of these statements in light of new
information or future events, except as expressly required by
applicable law.
SOURCE Cott Corporation