VICTOR, N.Y. - Constellation Brands, Inc. (NYSE: NYSE:STZ), a prominent beverage alcohol company, has priced a public offering of senior notes valued at $400 million with an interest rate of 4.800%, maturing in 2029. The offering, expected to close on January 11, 2024, is subject to customary closing conditions.
The notes, priced at 99.889% of their principal amount, will be senior unsecured obligations, ranking equally with Constellation’s other senior unsecured debts. The company plans to allocate the net proceeds towards general corporate purposes. This includes bolstering working capital, funding capital expenditures, repaying debt, and exploring other business opportunities.
Joint book-running managers for this offering are BofA Securities, Inc., Goldman Sachs & Co (NYSE:GS). LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. Interested parties can obtain the prospectus and prospectus supplement through the Securities and Exchange Commission's EDGAR service or by contacting the managing firms directly.
Constellation Brands, with a portfolio that includes beer, wine, and spirits, operates internationally and owns brands such as Corona Extra, Modelo Especial, and Robert Mondavi.
The information in this article is based on a press release statement.
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