Constellation Brands offers fixed-, floating-rate senior notes

By Devika Patel

Knoxville, Tenn., Oct. 22 – Constellation Brands, Inc. plans to sell senior notes in four fixed- and floating-rate tranches, according to a 424B3 filed with the Securities and Exchange Commission.

The floating-rate tranche will have a coupon that is based on Libor. The floaters are non-callable initially and then callable at par. The three tranches of fixed-rate notes feature a make-whole call and then a par call.

Bookrunners are BofA Merrill Lynch, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC.

Proceeds will be used with cash on hand and credit facility borrowings to invest in Canopy Growth Corp.

Constellation Brands is a Victor, N.Y.-based producer, importer and distributor of beer, wine and liquor.

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