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Central European Distribution
Corporation
CEDC announced today that the Company and its subsidiary
CEDC Finance Corporation International, Inc. have launched exchange offers to
holders of their outstanding Convertible Senior Notes due 2013 and Senior
Secured Notes due 2016. The exchange offers are part of a financial
restructuring that contemplates a reduction of senior note debt by more than
$750 million.
The exchange offers were prompted in part by the impending March 15, 2013
maturity of the Convertible Senior Notes. Moreover, the Company believes that
a successful restructuring of both the Convertible Senior Notes and the Senior
Secured Notes will improve its financial strength and flexibility and enable
it to focus on maximizing the value of its strong brands and market position.
The Company is engaged in ongoing and constructive discussions with
representatives of its major stakeholders about the terms of the exchange
offers.
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