Thursday, integrated alcoholic beverages maker Central European Distribution Corp. (CEDC) said it has started a public offering of 9.50 million shares of its common stock, with an option to underwriters to purchase up to an additional 950 thousand shares.
In addition to the public offering, the company has also proposed an offer of approximately $870.0 million aggregate principal amount of U.S. dollar and euro-denominated senior secured notes due 2016 to institutional investors.
The Bala Cynwyd, Pennsylvania-based company said the closing of the offer is not conditioned upon the completion of the concurrent offering of senior secured notes. However, the completion of the concurrent offering of senior secured notes is conditioned upon the completion of the offering.
The company plans to use the net proceeds from the offering and the debt offering to purchase the remaining equity interests in Russian Alcohol Group from funds managed by Lion Capital LLP. It also intends to repay all amounts outstanding under the Russian Alcohol credit facilities and to call for redemption all of the company's outstanding senior secured notes due 2012, as well as repay amounts outstanding under an existing credit facility at one of the company's operating subsidiaries.
CEDC is currently trading at $32.50, down $1.92 or 5.58% on a volume of 508,655 shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.