Coty Announces Pricing Of Its Upsized $750M (Previously $600M) Of 6.625% Senior Secured Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
Coty Inc. has announced the pricing of its upsized $750 million senior secured notes due 2030, which were previously $600 million. The notes will have an interest rate of 6.625%.

July 20, 2023 | 5:24 am
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Coty Inc. has upsized its senior secured notes due 2030 from $600 million to $750 million. The notes will carry an interest rate of 6.625%.
The upsizing of Coty's senior secured notes indicates that the company is raising more debt than initially planned. This could be due to a variety of reasons such as funding for operations, paying off existing debt, or investing in growth opportunities. The impact on the stock price is neutral in the short term as it depends on how the company uses the raised funds. However, the increased debt level could potentially lead to higher financial risk in the long term.
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