STZ - Constellation Brands prices $750M in debt offering

2023-04-28 08:26:21 ET

• Constellation Brands ( NYSE: STZ ) has priced public offering of $750M of 4.900% senior unsecured notes due 2033 at 99.306% of the principal amount of the notes.
• The offering is expected to close on May 1, 2023.
• The company intends to use the net proceeds for general corporate purposes, including the repayment of its indebtedness outstanding under the delayed draw three-year term loan facility of its term loan credit agreement, dated as of August 9, 2022, as amended on October 18, 2022, and a portion of its outstanding commercial paper borrowings.

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