This Week
  • North American Breweries CEO sees plenty of potential to grow again.

  • Employers honored as best workplaces find surveys of employee offer valuable insight.

  • Elizabeth Schirmer Shores uses travelers as vehicles for technology in remote locales.

  • Revenues, employment and business prospects all are growing for Vanteon Corp.

  • EO Landon Mertz has big plans for nanotechnology firm Cerion Technology.

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

Constellation Brands completes debt offering

Rochester Business Journal
August 15, 2012

Constellation Brands Inc. has completed the sale of $650 million aggregate principal amount of 4.625 percent senior notes due March 2023. 

The Victor company expects to use the approximately $641 million in net proceeds from the sale of the notes—together with additional term loan and revolver borrowings under the senior credit facility and available cash—to finance a pending acquisition of the 50 percent interest in Crown Imports LLC not already owned by the company. Crown Imports has the exclusive right to import, market and sell Grupo Modelo’s Mexican beer portfolio in the United States.

The company cannot acquire the 50 percent interest in Crown Imports until the pending acquisition of Grupo Modelo SAB de C.V. by Anheuser-Busch InBev SA/NV is closed. That deal is expected to be completed in the first quarter of calendar 2013.  

Constellation Brands also has closed on an amendment to its 2012 credit agreement, which provides for a $575 million delayed draw term loan, which will be available to finance a portion of the purchase price of the acquisition.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google