---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-116925"
form_type: "8-K"
ticker: "STZ"
cik: "0000016918"
company_name: "CONSTELLATION BRANDS, INC."
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T01:50:08.499907+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Constellation Brands enters $500M delayed draw term loan facility

## Summary
- 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).

## SEC filing metadata
- accession: 0001193125-25-116925
- form_type: 8-K
- ticker: STZ
- cik: 0000016918
- company_name: CONSTELLATION BRANDS, INC.
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/16918/000119312525116925/0001193125-25-116925-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/16918/000119312525116925/d61467d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-116925
- JSON: https://secwatch.observer/filing/0001193125-25-116925.json
- Plain text: https://secwatch.observer/filing/0001193125-25-116925.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.