Constellation Brands Prices Offering of Senior Notes
January 29 2018 - 6:43PM
YASTEST
VICTOR, N.Y., Jan. 29, 2018 (GLOBE
NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a
leading beverage alcohol company, announced today that it priced
the public offering of $1.9 billion aggregate principal amount of
Senior Notes, consisting of (i) $600.0 million of 3.200%
Senior Notes due 2023 (the "2023 notes") for a public offering
price of 99.907% of the principal amount of the 2023 notes;
(ii) $700.0 million of 3.600% Senior Notes due 2028 (the
"2028 notes") for a public offering price of 99.807% of the
principal amount of the 2028 notes; and (iii) $600.0
million of 4.100% Senior Notes due 2048 (the "2048 notes") for a
public offering price of 99.656% of the principal amount of the
2048 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
February 7, 2018. Constellation intends to use the net
proceeds from the offering to redeem prior to maturity its
outstanding 6.000% Senior Notes due 2022 in the aggregate principal
amount of $600.0 million and for general corporate
purposes.
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, copies of which may
be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith
Incorporated toll-free at (800) 294-1322 or emailing
dg.prospectus_requests@baml.com, or contacting J.P. Morgan
Securities LLC collect at (212) 834-4533. Alternatively, the
prospectus and prospectus supplement may be obtained by visiting
EDGAR on the SEC website at http://www.sec.gov.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy notes. The notes will not be sold
in any state or jurisdiction in which such an offer, solicitation,
or sale would be unlawful.
About Constellation Brands
Constellation Brands is a leading international producer and
marketer of beer, wine and spirits with operations in the U.S.,
Mexico, New Zealand, Italy and Canada. Constellation is the
third-largest producer and marketer of beer for the U.S. market and
the world's leading premium wine company with a leading market
position in the U.S. Constellation's wine portfolio is complemented
by select premium spirits brands. Constellation's brand portfolio
includes Corona Extra, Corona Light, Modelo Especial, Modelo Negra,
Pacifico, Ballast Point, Robert Mondavi, Clos du Bois, Kim
Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino, The
Prisoner, SVEDKA Vodka, Casa Noble Tequila and High West
Whiskey.
Forward-Looking
Statements
This news release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Statements which are not historical
facts and relate to future plans, events or performance are
forward-looking statements that are based upon management's current
expectations and are subject to risks and uncertainties. Detailed
information regarding risk factors with respect to the company and
the offering are included in the company's filings with the SEC,
including the prospectus and prospectus supplement for the
offering.
CONTACTS:
Media
Mike McGrew: 773-251-4934
Amy Martin: 585-678-7141 |
|
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170 |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Constellation Brands, Inc via Globenewswire
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