Constellation Brands to repay European term A loan debt via new notes

By Sarah Lizee

Olympia, Wash., Oct. 31 – Constellation Brands, Inc. plans to repay amounts outstanding under its European term A loan facility using proceeds from an offering of fixed-rate senior notes in three tranches, according to a 424B3 filing with the Securities and Exchange Commission.

The facility matures on July 14, 2020 and bears interest at a rate that varies based on the debt rating and is a function of Libor plus a margin or the base rate plus a margin.

As of Aug. 31, the interest rate was 2.5%.

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

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