Loan & DebtMay 6, 2026, 04:43 PM
Constellation Brands Issues $500M 4.850% Notes; Redeems $600M 3.700% Notes
AI Summary
Constellation Brands, Inc. announced the issuance of $500 million aggregate principal amount of 4.850% Senior Notes due 2031. These notes were offered at 99.943% of their principal amount and will pay interest semi-annually, maturing on May 6, 2031. Concurrently, the company gave notice for the full redemption of all its outstanding $600 million 3.700% Senior Notes due 2026 prior to their maturity, indicating a debt refinancing strategy.
Key Highlights
- Constellation Brands issued $500 million aggregate principal amount of 4.850% Senior Notes due 2031.
- The new notes were issued at a public offering price of 99.943% of the principal amount.
- Interest on the new notes will be paid semi-annually on May 6 and November 6, starting November 6, 2026.
- The 4.850% Senior Notes will mature on May 6, 2031.
- The company announced the full redemption of its outstanding $600 million 3.700% Senior Notes due 2026 prior to maturity.
- The Supplemental Indenture for the new notes includes customary events of default and covenants.
Price Impact
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