Constellation Brands Prices Offering of Senior Notes, Business News

VICTOR, NY, Jan. 30, 2023 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, today announced that it is pricing the public offering of $500.0 million aggregate principal amount of 5,000% Senior. Notes due in 2026 (the “Notes”) for a public offering price of 99.829% of the principal amount of the Notes. The notes will be senior obligations equal to all of Constellation’s other senior unsecured indebtedness.

The closing of the offering is expected to take place on February 2, 2023. Constellation intends to use the net proceeds from the offering for general corporate purposes, including the repayment of a portion of its outstanding indebtedness pursuant to the delayed draw of three-year term loan facility of its term loan credit agreement, dated as of August 9, 2022, as amended on 18 October 2022.

BofA Securities, Inc., Goldman Sachs & Co. LLC, and JP Morgan 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 from BofA Securities, Inc. toll free at (800) 294-1322 or email [email protected], contact Goldman Sachs & Co. LLC toll free at (866) 471-2526 or email [email protected], or contact JP Morgan Securities LLC collect at (212) 834-4533. Alternatively, the prospectus and prospectus supplement may be obtained by visiting EDGAR on the SEC website at https://www.sec.gov.

This announcement is not 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 offer, solicitation or sale would be illegal.

ABOUT CONSTELLATION MARKS
Constellation Brands is an international producer and marketer of beer, wine and spirits with operations in the US, 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 and High West Whiskey.

FORWARD-LOOKING STATEMENT
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 that are not historical facts and relate to future plans, events or performance are forward-looking statements that are based on management’s current expectations and are subject to risks and uncertainties. The forward-looking statements are based on management’s current expectations and should in no way be construed as a guarantee that such events or results will 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 relating to the company and the offering is included in the company’s filings with the SEC, including the prospectus and prospectus supplement for the offering.

A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/9f466f60-5ef6-478f-ac96-61a8d3a245ab