Central European Distribution Corp., Mount Laurel, said today that it will sell notes worth 50 million euros, or $66.4 million, to institutional investors.
The debt securities, to mature in 2016, will be denominated in euros and pay interest at the rate of 8.875 percent annually.
Proceeds from the sale will be used to repay existing short-term debt.
Central European is a beer and spirits importer and distributor. - Paul Schweizer