Constellation Brands Closes Debt Offering and Completes Arrangements for Other Permanent Financing for Beer Acquisition
(Thomson Reuters ONE) -
VICTOR, N.Y., May 14, 2013 - Constellation Brands, Inc. (NYSE: STZ and STZ.B),
announced today that it has completed the sale of $1,550 million aggregate
principal amount of Senior Notes consisting of $500 million of 3.75% Senior
Notes due 2021 and $1,050 million of 4.25% Senior Notes due 2023. The Notes are
senior obligations that rank equally with the company's other senior unsecured
indebtedness. The notes are and will be guaranteed by the subsidiaries that are
guarantors under the company's senior credit facility.
In addition, on May 2, 2013, Constellation entered into an amended and restated
credit agreement. Among other changes, this agreement creates a $1,500 million
delayed draw European term loan facility consisting of a committed $500 million
European Term A loan facility and a $1,000 million European Term B loan facility
and a new committed $675 million delayed draw U.S. term loan facility.
The company expects to use the net proceeds from the sale of the notes and the
European and U.S. term loans, plus cash on hand, revolver borrowings under the
company's senior credit facility, and borrowings under the company's accounts
receivable securitization facility to fund its previously announced beer
business transaction.
This news release is neither an offer to sell nor a solicitation of an offer to
buy the securities described herein, nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering was made only by means of a
prospectus supplement and the accompanying prospectus. Copies may be obtained
from Merrill Lynch, Pierce, Fenner & Smith Incorporated, Prospectus Department,
100 West 33rd Street, 3rd Floor, New York, NY 10001, toll-free at
1-800-294-1322. Alternatively, the prospectus and prospectus supplement may be
obtained by visiting EDGAR on the SEC website at http://www.sec.gov.
About Constellation Brands
Constellation Brands is the world's leading premium wine company, with a broad
portfolio of widely admired premium products across the wine, beer and spirits
categories, Constellation's brand portfolio includes Robert Mondavi, Clos du
Bois, Kim Crawford, Inniskillin, Franciscan Estate, Mark West, Ruffino, Simi,
Estancia, Corona Extra, Black Velvet Canadian Whisky and SVEDKA Vodka.
Forward-Looking Statements
This news release contains forward-looking statements. All statements other
than statements of historical fact are forward-looking statements. The word
"expect" and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such identifying
words. These statements may relate to business strategy, future operations,
prospects, plans and objectives of management, as well as information concerning
expected actions of third parties. All forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from
those set forth in, or implied by, such forward-looking statements. The
transactions described in the news release (collectively, the "Transactions")
are subject to the satisfaction of certain closing conditions, including receipt
of any necessary regulatory approval and the consummation of certain
transactions between Anheuser-Busch InBev SA/NV and Grupo Modelo, S.A.B. de C.V.
and certain of its affiliates. 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. The forward-looking statements are
based on management's current expectations and should not be construed in any
manner as a guarantee that such results will in fact occur or that the
Transactions will occur or occur on the timetable contemplated hereby.
In addition to the risks and uncertainties of ordinary business operations, the
forward-looking statements of Constellation Brands contained in this news
release are subject to a number of risks and uncertainties, including completion
of the Transactions on the expected terms, the availability of financing on the
expected terms, and other factors and uncertainties disclosed in the company's
filings with the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the fiscal year ended February 28, 2013, which could cause
future performance to differ from current expectations.
CONTACTS
Media
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Constellation Brands Inc via Thomson Reuters ONE
[HUG#1701720]
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2013 - 22:01 Uhr
Sprache: Deutsch
News-ID 260088
Anzahl Zeichen: 5848
contact information:
Town:
Victor
Kategorie:
Business News
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"Constellation Brands Closes Debt Offering and Completes Arrangements for Other Permanent Financing for Beer Acquisition"
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