Constellation Brands entered into an underwriting agreement for $500 million 4.850% Senior Notes due 2031, priced at 99.943%, to redeem $600 million 3.700% Senior Notes due 2026 and for general corporate purposes.
Key takeaways
Entered underwriting agreement on May 4, 2026 with BofA Securities, Goldman Sachs & Co. LLC, PNC Capital Markets LLC, and Truist Securities as representatives.
Issuing $500.0 million aggregate principal 4.850% Senior Notes due 2031 at public offering price of 99.945% of principal.
Closing scheduled for May 6, 2026, subject to customary conditions.
Net proceeds plus commercial paper borrowings and/or cash on hand to redeem all $600 million outstanding 3.700% Senior Notes due 2026 prior to maturity.
Notes issued under Indenture dated April 17, 2012, as supplemented including Supplemental Indenture No. 37 dated May 6, 2026.