World: Molson Coors Brewing Company announces pricing of euro-denominated Senior Floating Rate Notes

Molson Coors Brewing Company announced on March 7 the pricing of its previously announced offering of €500 million aggregate principal amount of its Floating Rate Senior Notes due 2019 (the “Notes”). The Notes will bear interest at a floating rate equal to three-month EURIBOR, reset quarterly, plus 0.350% per annum. The offering is expected to close on or about March 15, 2017, subject to customary closing conditions, Yahoo Finance said.

After deducting discounts and commissions and estimated offering expenses, Molson Coors expects to receive net proceeds from the offering of approximately €500 million. Substantially concurrently with the offering, Molson Coors expects to issue $1.0 billion aggregate principal amount of its U.S. dollar-denominated senior notes, consisting of $500 million principal amount of 1.900% Senior Notes due 2019 and $500 million principal amount of 2.250% Senior Notes due 2020 (the “Concurrent Offering”). The aggregate principal amount of this offering, together with the Concurrent Offering, is expected to be equivalent to approximately $1.5 billion.

Molson Coors intends to use the net proceeds of this offering and the Concurrent Offering to repay a portion of the amounts outstanding under its term loan facility.

The Notes and the related guarantees are being offered to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or any state or other jurisdiction’s securities laws. Accordingly, the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and any applicable state or other jurisdiction’s securities laws.

This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Molson Coors is the world’s third-largest brewer and it operates through Molson Coors Canada, MillerCoors, Molson Coors Europe and Molson Coors International.

06 March, 2017