Constellation Brands to launch $1 billion term loan B on Wednesday

By Sara Rosenberg

New York, April 23 - Constellation Brands Inc. (CIH International SARL) is set to hold a lender call at 11 a.m. ET on Wednesday to launch a $1 billion seven-year term loan B, according to a market source.

J.P. Morgan Securities LLC is the left lead bank on the deal.

The term loan B is talked at Libor plus 200 basis points to 225 bps with a 0.75% Libor floor and an original issue discount that is still to be determined, the source said.

Proceeds will be used to help fund the acquisition of Grupo Modelo's U.S. business.

Constellation Brands' is a Victor, N.Y.-based wine company.

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