Financing ·
On September 18, 2026, Constellation Brands entered into a Term Loan Credit Agreement providing for a delayed draw…
STZConstellation Brands, Inc.
On September 18, 2026, Constellation Brands entered into a Term Loan Credit Agreement providing for a delayed draw term loan facility with an aggregate principal amount of up to $300 million. The company intends to use proceeds for general corporate purposes, including debt repayment. Commitments terminate on the earliest of full drawdown, termination, or June 18, 2027, with maturity occurring two years after initial borrowing. Interest rates are based on Term SOFR plus a margin of 0.700% to 1.100%, or Base Rate plus 0.000% to 0.100%, depending on credit ratings. The agreement imposes financial covenants, including a minimum Consolidated Interest Coverage Ratio of 2.50:1.00 and a maximum Consolidated Net Leverage Ratio of 4.00:1.00 (step-up to 4.50:1.00 after material acquisitions). Constellation Brands operates in the beverage alcohol industry, producing and marketing beer, wine, and spirits.