Thursday, Central European Distribution Corp. (CEDC) commenced a public offering of 9.5 million shares of its common stock. The underwriters have been granted an option by the company to purchase up to an additional 950 thousand shares.
Concurrently with the Offering, the company is proposing to offer approximately $870.0 million aggregate principal amount of U.S. dollar and euro-denominated senior secured notes due 2016 in an offering to institutional investors. The completion of the offering is not conditioned upon the completion of the concurrent offering of Senior Secured Notes.
The company intends to use the net proceeds from the Offering and the concurrent offering of Senior Secured Notes to purchase the remaining equity interests in Russian Alcohol Group from funds managed by Lion Capital LLP, 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 and to repay amounts outstanding under an existing credit facility at one of the Company's operating subsidiaries.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.