debt
confidence high
sentiment neutral
materiality 0.50
Molson Coors issues €800M 3.800% Senior Notes due 2032 to refinance maturing debt
MOLSON COORS BEVERAGE CO
- Issued €800M aggregate principal of 3.800% Senior Notes due 2032; net proceeds ~€793.5M.
- Proceeds used for general corporate purposes including repayment of €800M Senior Notes due July 2024.
- Notes are senior unsecured, guaranteed by certain wholly-owned subsidiaries, rank pari passu with other unsubordinated debt.
- Notes redeemable at par after March 15, 2032, or earlier at Bund Rate plus 20 bps.
- Covenants limit additional secured indebtedness and sale-leaseback transactions, subject to exceptions.