Constellation Brands announced it is issuing $500 million in new senior notes and redeeming $600 million of existing senior notes. This action effectively refinances a portion of the company's debt, extending its maturity profile.
Key Details
- New Debt Issuance: The company issued $500 million aggregate principal amount of 4.850% Senior Notes, which will mature on May 6, 2031.
- Debt Redemption: The company has called for the full redemption of its outstanding $600 million aggregate principal amount of 3.700% Senior Notes due 2026.
- Redemption Timeline: The redemption of the 3.700% notes is scheduled to be effected on May 18, 2026.