| E-Malt.com News article: USA: Constellation Brands selling $650 mln of senior notes to fund acquisition of Grupo Modelo’s Crown Imports
Constellation Brands Inc., which is buying out Grupo Modelo’s share of their U.S. beer importing business, is selling $650 million of senior notes to help fund the $1.85 billion acquisition, Democrat and Chronicle reported on August, 6.
Proceeds will be used to help finance Constellation’s purchase of the 50 percent stake in Crown Imports LLC that it doesn’t already own. Crown’s imported brands include Corona Extra, Negra Modelo and Pacifico.
Constellation last sold bonds in April, issuing $600 million of 10-year securities.
The new bonds may be rated Ba1, the highest level of speculative-grade, by Moody’s Investors Service. Bank of America, JPMorgan Chase, Rabobank International, Barclays and Wells Fargo are managing the sale.
08 August, 2012
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