USA: Constellation Brands prices offering of senior notes
Constellation Brands, Inc., a leading beverage alcohol company, announced on October 31 that it priced the public offering of $2.0 billion aggregate principal amount of Senior Notes, consisting of (i) $600.0 million of 2.000% Senior Notes due 2019 (the “2019 notes”) for a public offering price of 99.860% of the principal amount of the 2019 notes; (ii) $700.0 million of 2.250% Senior Notes due 2020 (the “2020 notes”) for a public offering price of 99.804% of the principal amount of the 2020 notes; and (iii) $700.0 million of 2.650% Senior Notes due 2022 (the “2022 notes”) for a public offering price of 99.582% of the principal amount of the 2022 notes (collectively, the “notes”).
The notes will be senior obligations that rank equally with all of Constellation’s other senior unsecured indebtedness, and will be guaranteed by the subsidiaries of Constellation that are guarantors under Constellation’s senior credit facility.
Closing of the offering is expected to occur on November 7, 2017. Constellation intends to use the net proceeds from the offering to repay amounts outstanding under its European Term A loan facility.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC are acting as the joint book-running managers of the offering. The notes are being offered only by means of a prospectus, including a prospectus supplement.
Tilbage
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