03:38 AM EDT, 05/21/2024 (MT Newswires) -- Coty ( COTY ) said Tuesday it launched an offering of 500 million euros ($543.2 million) worth of senior secured notes, subject to customary conditions.

Other terms of the offering were not yet available.

Net proceeds will be used to redeem all outstanding 6.5% senior notes due 2026, to repay borrowings under the company's debt facility, and to pay for expenses related to the offering, the company said.

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