CONSTELLATION BRANDS, INC. (STZ): debt financing — Constellation Brands enters $500M delayed draw term loan facility

CONSTELLATION BRANDS, INC.

Aggregate principal amount $500M, available in up to two draws.
Proceeds will be used for general corporate purposes, including debt repayment.
Maturity two years after initial borrowing; commitments expire Nov 7, 2025 if undrawn.
Interest at Term SOFR or Base Rate plus spread (0.750%-1.250% SOFR; 0.000%-0.250% Base Rate).
Covenants: min interest coverage 2.50:1.00; max net leverage 4.00:1.00 (step-up to 4.50 after material acquisition).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

CONSTELLATION BRANDS, INC. incurred term loan of $500 million with Bank of America, N.A., as administrative agent, and certain other lenders at Term SOFR or Base Rate plus (i) for Term SOFR, a margin ranging from 0.750% to 1 maturing two years after the date on which the initial borrowing, if any, of the Term Loans occurs.

Instrument: term loan
Principal: $500 million
Counterparty: Bank of America, N.A., as administrative agent, and certain other lenders
Rate: Term SOFR or Base Rate plus (i) for Term SOFR, a margin ranging from 0.750% to 1
Maturity: two years after the date on which the initial borrowing, if any, of the Term Loans occurs
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a delayed draw term loan available in up to two draws in the aggregate principal amount of $500 million.

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Source: SEC EDGAR

accession 0001193125-25-116925

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