Molson Coors Brewing Company Announces Pricing of its Offering of United States Dollar-Denominated Senior Notes
March 06 2017 - 4:15PM
Business Wire
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) (“Molson
Coors”) announced today the pricing of its previously announced
offering of $1.0 billion aggregate principal amount of its senior
notes, consisting of $500 million principal amount of 1.90% Senior
Notes due 2019 and $500 million principal amount of 2.25% Senior
Notes due 2020 (collectively, the “Notes”). The offering is
expected to close on or about March 15, 2017, subject to
customary closing conditions. Molson Coors intends to use the net
proceeds of this offering to repay a portion of the amounts
outstanding under its term loan facility.
After deducting discounts and commissions and estimated offering
expenses, Molson Coors expects to receive net proceeds from the
offering of approximately $1.0 billion.
The Notes and the related guarantees are being offered to
persons reasonably believed to be qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”), and to non-U.S. persons outside the
United States pursuant to Regulation S under the Securities Act.
The Notes and the related guarantees have not been registered under
the Securities Act or any state or other jurisdiction’s securities
laws. Accordingly, the Notes may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements under the Securities Act and any
applicable state or other jurisdiction’s securities laws.
This press release is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy any securities and shall not
constitute an offer to sell or a solicitation of an offer to buy,
or a sale of any securities in any jurisdiction in which such
offer, solicitation or sale is unlawful.
Overview of Molson Coors
With a story that starts in 1774, Molson Coors has spent
centuries defining brewing greatness. As the third largest global
brewer, Molson Coors works to deliver extraordinary brands that
delight the world’s beer drinkers. From Coors Light, Miller Lite,
Carling, Staropramen and Sharp’s Doom Bar to Leinenkugel’s Summer
Shandy, Blue Moon Belgian White, Pilsner Urquell, Creemore Springs
Premium Lager and Smith & Forge Hard Cider, Molson Coors offers
a beer for every beer lover.
Molson Coors operates through Molson Coors Canada, MillerCoors,
Molson Coors Europe and Molson Coors International. The company is
not only committed to brewing extraordinary beers, but also running
a business focused on respect for its employees, communities and
drinkers, which means corporate responsibility and accountability
right from the start. It has been listed on the Dow Jones
Sustainability World Index for the past five years. To learn more
about Molson Coors Brewing Company, visit molsoncoors.com,
ourbeerprint.com or on Twitter through @MolsonCoors.
Special Note Regarding Forward-Looking
Statements
This press release includes estimates or projections that
constitute “forward-looking statements” within the meaning of the
U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “anticipate,” “project,” “will,” and similar
expressions identify forward-looking statements, which generally
are not historic in nature. Although the company believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Important factors that could cause actual
results to differ materially from the company’s historical
experience, and present projections and expectations are disclosed
in the company’s filings with the SEC. These factors include, among
others, our ability to successfully integrate the acquisition of
MillerCoors; our ability to achieve expected tax benefits,
accretion and cost savings and synergies; impact of increased
competition resulting from further consolidation of brewers,
competitive pricing and product pressures; health of the beer
industry and our brands in our markets; economic conditions in our
markets; additional impairment charges; our ability to maintain
manufacturer/distribution agreements; changes in our supply chain
system; availability or increase in the cost of packaging
materials; success of our joint ventures; risks relating to
operations in developing and emerging markets; changes in legal and
regulatory requirements, including the regulation of distribution
systems; fluctuations in foreign currency exchange rates; increase
in the cost of commodities used in the business; the impact of
climate change and the availability and quality of water; loss or
closure of a major brewery or other key facility; our ability to
implement our strategic initiatives, including executing and
realizing cost savings; our ability to successfully integrate newly
acquired businesses; pension plan and other post retirement benefit
costs; failure to comply with debt covenants or deterioration in
our credit rating; our ability to maintain good labor relations;
our ability to maintain brand image, reputation and product
quality; and other risks discussed in our filings with the SEC,
including our most recent Annual Report on Form 10-K. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements and by reference to the
underlying assumptions. You should not place undue reliance on
forward looking statements, which speak only as of the date they
are made. We do not undertake to update forward-looking statements,
whether as a result of new information, future events or
otherwise.
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Molson Coors Brewing CompanyNews
MediaColin Wheeler, 303-927-2443orInvestor RelationsDave Dunnewald,
303-927-2334orKevin Kim, 303-927-2515
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