Constellation Brands plans to use senior notes to redeem 2022 notes

Chicago, July 21 – Constellation Brands, Inc. plans to use the proceeds from a new issue of notes announced on Wednesday to redeem bonds due 2022, according to a 424B3 filing with the Securities and Exchange Commission.

The new notes will be used to redeem all of the $500 million outstanding 2.7% senior notes and for general corporate purposes, which may include the repayment of near-term debt maturities.

The make-whole premium payment for the early redemption will cost the company $8 million.

Constellation Brands is a Victor, N.Y.-based producer, importer and distributor of beer, wine and liquor.

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