Constellation Brands Announces Full Redemption of 6.000% Senior Notes Due 2022
January 29 2018 - 6:51PM
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 has given notice
for full redemption prior to maturity of all of its outstanding
6.000% Senior Notes due 2022 (CUSIP Number: 21036PAH1)
(the "notes") to be effected on February 28, 2018 (the
"redemption date"). As of January 29, 2018, there were $600.0
million in aggregate principal amount of the notes outstanding.
The redemption price for the notes, payable in
cash, will be calculated pursuant to the formula set forth in the
supplemental indenture relating to the notes, and will include a
make-whole premium of approximately $74.4 million which will be
recorded as loss on extinguishment of debt for the fourth quarter
of fiscal 2018. This expense is expected to reduce fiscal 2018
reported basis diluted earnings per share by approximately $0.26
and will be excluded from comparable basis diluted earnings per
share.
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 are
included in the company's filings with the SEC.
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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