Coty Inc. announced that it, together with its wholly-owned subsidiaries, HFC Prestige Products Inc. and HFC Prestige International U.S. LLC (Co-Issuers and collectively with Coty, Issuers), launched an offering of ?500 million aggregate principal amount of senior secured notes (Notes), subject to market and customary conditions. The interest rates and other key terms of the Notes will be determined at the time of pricing. The Notes will be senior secured obligations of the Issuers and will be guaranteed on a senior secured basis by each of Coty?s subsidiaries (other than the Co-Issuers) that guarantee, and will be secured by first priority liens on the same collateral that secures, Coty?s obligations under Coty?s existing senior secured credit facilities and senior secured notes.

The collateral security will be released upon the Notes achieving investment grade ratings from two out of the three ratings agencies. Coty intends to use the net proceeds from the offering of the Notes to redeem all of its existing 6.500% Senior Notes due 2026, repay a portion of the borrowings outstanding under its revolving credit facility, without a reduction in commitment, and pay the offering expenses payable by it in connection with the offering of the Notes.