VICTOR, N.Y., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc.
(NYSE: STZ), a leading beverage alcohol company, announced today that it priced
the public offering of $400.0 million aggregate principal amount of 4.800%
Senior Notes due 2029 (the "notes") for a public offering price of 99.889% of
the principal amount of the notes. The notes will be senior obligations that
rank equally with all of Constellation's other senior unsecured indebtedness.
Closing of the offering is expected to occur on January 11, 2024, subject to the
satisfaction of customary closing conditions. Constellation intends to use the
net proceeds from the offering for general corporate purposes, including working
capital, funding capital expenditures, repayment of indebtedness and other
business opportunities.
BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and
Wells Fargo Securities, LLC are acting as the joint book-running managers of the
offering. The notes are being offered only by means of a prospectus, including a
prospectus supplement, copies of which may be obtained by contacting BofA
Securities, Inc. toll-free at (800) 294-1322 or emailing
dg.prospectus_requests@bofa.com, contacting Goldman Sachs & Co. LLC toll-free at
(866) 471-2526 or emailing prospectus-ny@ny.email.gs.com, contacting J.P. Morgan
Securities LLC collect at (212) 834-4533, or contacting Wells Fargo Securities,
LLC toll-free at (800) 645-3751 or emailing wfscustomerservice@wellsfargo.com.
Alternatively, the prospectus and prospectus supplement may be obtained by
visiting EDGAR on the SEC website at https://www.sec.gov.
This announcement does not constitute an offer to sell or a solicitation of an
offer to buy notes. The notes will not be offered or sold in any state or
jurisdiction in which such an offer, solicitation, or sale would be unlawful.
ABOUT CONSTELLATION BRANDS
Constellation Brands is an international producer and marketer of beer, wine,
and spirits with operations in the U.S., Mexico, New Zealand, and Italy.
Constellation's brand portfolio includes Corona Extra, Modelo Especial, the
Robert Mondavi Brand Family, Kim Crawford, Meiomi, The Prisoner Wine Company,
High West, Casa Noble, and Mi CAMPO.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Statements which are not historical facts and relate to future plans,
events, or performance are forward-looking statements that are based upon
management's current expectations and are subject to risks and uncertainties.
The forward-looking statements are based on management's current expectations
and should not be construed in any manner as a guarantee that such events or
results will in fact occur. All forward-looking statements speak only as of the
date of this news release and Constellation Brands undertakes no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise. Detailed information regarding risk
factors with respect to the company and the offering are included in the
company's filings with the SEC, including the prospectus and prospectus
supplement for the offering.
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