Constellation Brands Prices Offering of Senior Notes
April 23 2020 - 05:33PM
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, announced today that it priced the public
offering of $1.2 billion aggregate principal amount of Senior
Notes, consisting of $600.0 million of 2.875% Senior Notes due
2030 (the “2030 notes”) for a public offering price of 99.801%
of the principal amount of the 2030 notes, and $600.0 million
of 3.750% Senior Notes due 2050 (the “2050 notes”) for a
public offering price of 99.286% of the principal amount of the
2050 notes (collectively, the “notes”) . The notes will be
senior obligations that rank equally with all of Constellation’s
other senior unsecured indebtedness.
Closing of the offering is expected to occur on April 27,
2020. Constellation intends to use the net proceeds from the
offering to redeem prior to maturity its outstanding 2.250% senior
notes due 2020 in the aggregate principal amount of $700.0 million
and for general corporate purposes.
BofA Securities, Inc., Goldman Sachs & Co. LLC, 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 BofA Securities, Inc. toll-free at (800)
294-1322 or emailing dg.prospectus_requests@bofa.com, contacting
Goldman Sachs & Co. LLC toll-free at (866) 471-2526, 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
offered or sold in any state or jurisdiction in which such an
offer, solicitation, or sale would be unlawful.
ABOUT CONSTELLATION BRANDSConstellation Brands
is an international producer and marketer of beer, wine and spirits
with operations in the U.S., Mexico, New Zealand, and Italy.
Constellation is the third-largest beer company in the U.S. and a
leading, higher-end wine company in the U.S. market.
Constellation’s brand portfolio includes Corona Extra, Corona
Light, Corona Premier, Modelo Especial, Modelo Negra, Pacifico, the
Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner
brand family, SVEDKA Vodka, Casa Noble Tequila and High West
Whiskey.
FORWARD-LOOKING STATEMENTSThis 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. The forward-looking statements
are based on management's current expectations and should not be
construed in any manner as a guarantee that such events or results
will in fact occur. All forward-looking statements speak only as of
the date of this news release and Constellation Brands undertakes
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
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.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934 /
michael.mcgrew@cbrands.comAmy Martin 585-678-7141 /
amy.martin@cbrands.com |
Patty Yahn-Urlaub 585-678-7483
/ patty.yahn-urlaub@cbrands.comBob Czudak 585-678-7170 /
bob.czudak@cbrands.com |
A downloadable PDF copy of this news release enhanced with
multimedia links can be found
here: http://ml.globenewswire.com/Resource/Download/ed4980ca-c583-42d8-a471-1bf2e25190ad
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