USA & Canada: Molson Coors Brewing announces public offering of US$2.35 bln of shares

Molson Coors Brewing Company announced on January 26 that it has commenced an underwritten public offering of US$2.35 billion of shares of its Class B Common Stock. In connection with the offering, Molson Coors also intends to grant the underwriters a 30-day option to purchase up to an additional US$235 million of shares of Class B Common Stock.

Molson Coors intends to use the net proceeds of this offering to fund the previously announced acquisition from Anheuser-Busch InBev SA/NV of SABMiller plc’s interest in MillerCoors LLC and all other assets primarily related to the Miller brand portfolio outside of the United States and Puerto Rico (the “Acquisition”), and to pay related fees and expenses of the Acquisition. The offering is not conditioned on the closing of the Acquisition. In the event that the Acquisition is not consummated, Molson Coors intends to use the net proceeds of this offering for general corporate purposes, which may include share repurchases, acquisitions or debt repayment.

UBS Investment Bank, BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering. BMO Capital Markets, MUFG, RBC Capital Markets and Wells Fargo Securities are also acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement (including a prospectus) filed with the Securities and Exchange Commission (“SEC”), which became effective upon filing.

Molson Coors Brewing Company brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Staropramen and Blue Moon across The Americas, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; across Europe through Molson Coors Europe; and outside these core markets through Molson Coors International.

27 January, 2016