Home / Today's Top Stories / Constellation Brands prices $400 million debt offering

Constellation Brands prices $400 million debt offering

Constellation Brands Inc. has priced a public offering of $400 million 4.75 percent senior notes due in 2025.

Proceeds from the debt offering will be used to fund a portion of the Victor, Ontario County, firm’s $1 billion acquisition of Home Brew Mart Inc., which does business as Ballast Point Brewing & Spirits, or for other general corporate purposes.

Constellation Brands expects the acquisition of the San Diego-based craft brewer to close by year-end.

The notes will be senior obligations that rank equally with all of Constellation Brands’ other senior unsecured indebtedness, and will be guaranteed by the subsidiaries of Constellation Brands that are guarantors under Constellation Brands’ senior credit facility, the company reported.

Closing of the offering is expected to occur Dec. 4.

Constellation Brands stock (NYSE: STZ) was trading midday at $137.59 a share, up slightly from Thursday’s close of $137.46. The company’s earlier in the day hit an record high of $139.89.

(c) 2015 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.


Check Also


Leadership program seeks to foster growth in agriculture industry (access required)

When it comes to agriculture, the industry is no Silicon Valley. Surveys conducted just a few years ago found that ...

Ability Partners Fndtn 4_22

Ability Partners plans gala in Finger Lakes (access required)

Ability Partners Foundation will host its 16th annual Winter Gala and Auction in the Finger Lakes next month, supporting the ...