Constellation Brands to partially repay U.S. term A loan via new notes

By Tali Rackner

Minneapolis, May 2 – Constellation Brands, Inc. plans to repay a portion of the outstanding debt under its U.S. term A loan with the proceeds from new senior note offerings, according to a 424B3 filing with the Securities and Exchange Commission.

The term A loan matures on July 16, 2020 and currently bears interest at Libor plus 230 basis points.

Proceeds will also be used to repay all of the company’s outstanding 7¼% senior notes due 2017.

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

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