Constellation Brands Canada to launch C$409 million term loan Tuesday

By Sara Rosenberg

New York, Oct. 28 – Constellation Brands Canada Inc. is scheduled to host a lenders presentation at 2:30 p.m. ET on Tuesday to launch a C$409 million first-lien term loan, according to a market source.

Morgan Stanley Senior Funding Inc., Antares Capital LP, BMO Capital Markets and Scotiabank are the leads on the deal.

The term loan is split between a $260 million tranche and C$66 million tranche, the source said.

Proceeds of the transaction will be used to fund the acquisition of the company by Ontario Teachers’ Pension Plan from Constellation Brands for about C$1.03 billion.

Closing is expected before year-end.

Constellation Brands Canada is a Mississauga, Ont.-based operator of wineries and Wine Rack stores.

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