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Constellation Brands 8-K Report, Regulation FD Disclosure (Jan 9, 2024)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed January 9, 2024
Period End
January 9, 2024
Security
STZ
In the record · 2016–202610-K1110-Q338-K237

STZ filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 237 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’18Sep ’18
  2. Leadership change8-K · Oct ’20Oct ’20
  3. Leadership change8-K · Nov ’22Nov ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed January 9, 2024. Cited figures are marked; the original filing is the authoritative source.

On January 9, 2024, Constellation Brands, Inc. (NYSE: STZ) announced that it priced a public offering of $400.0 milliona aggregate principal amount of 4.800% Senior Notes due 2029.

The notes were priced at 99.889%b of principal amount and will be senior obligations ranking equally with all of Constellation's other senior unsecured indebtedness. Closing of the offering is expected on January 11, 2024, subject to customary closing conditions. Constellation intends to use the net proceeds for general corporate purposes, including working capital, funding capital expenditures, repayment of indebtedness and other business opportunities.

BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC are the joint book-running managers.

The filing is a Regulation FD disclosure furnishing the pricing news release (Exhibit 99.1). It contains no financial results, guidance or other operating information.

02—Key points

Key Highlights

  1. Priced a public offering of $400.0 million of 4.800% Senior Notes due 2029
  2. Notes priced at 99.889% of principal amount
  3. Notes rank equally with all other senior unsecured indebtedness of Constellation
  4. Closing expected January 11, 2024, subject to customary closing conditions
  5. Net proceeds earmarked for general corporate purposes, including working capital, capital expenditures, debt repayment and other business opportunities
  6. Joint book-running managers: BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
  7. Filed under Item 7.01 (Regulation FD) and furnished, not filed, under Section 18 of the Exchange Act

03—Questions

Frequently Asked Questions

  1. What did Constellation Brands announce in this filing?

    Constellation announced that it priced a public offering of $400.0 million aggregate principal amount of 4.800% Senior Notes due 2029, at 99.889% of the principal amount.

  2. What is the ranking of the new notes?

    The notes will be senior obligations that rank equally with all of Constellation's other senior unsecured indebtedness.

  3. When is the offering expected to close?

    Closing is expected to occur on January 11, 2024, subject to the satisfaction of customary closing conditions.

  4. How will Constellation use the proceeds?

    The company intends to use the net proceeds for general corporate purposes, including working capital, funding capital expenditures, repayment of indebtedness and other business opportunities.

  5. Who are the underwriters for the offering?

    BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the joint book-running managers.

04—Continue

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