10:05 AM EST, 11/21/2024 (MT Newswires) -- Coty ( COTY ) early Thursday said investors holding more than $476.1 million of the cosmetics and fragrances company's 5.00% senior secured notes tendered those securities for redemption by Wednesday's 5 pm ET early deadline, surpassing an upsized $300 million cap set by Coty ( COTY ) for the total amount of notes eligible for an early-tender premium.

Coty ( COTY ) will redeem a prorated 63% of the notes tendered and not withdrawn by this week's early deadline at their full face value, which includes a $30 premium for each $1,000 of the notes, plus any accrued but unpaid interest prior to a Dec. 6 expiration date.

The company, which increased the size of its tender offer by $50 million over its original plans to accept $250 million of the notes for redemption, is expecting to settle the transaction on Dec. 10 using cash on hand and other sources of liquidity, it said.

Coty ( COTY ) shares were down 0.4% in recent morning trade.

Price: 7.11, Change: -0.03, Percent Change: -0.42