secwatch.observer — SEC 8-K summary
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Issuer:     CONSTELLATION BRANDS, INC. (STZ)
CIK:        0000016918
Form:       8-K
Filed at:   2025-05-09T23:59:59+00:00
Accession:  0001193125-25-116925
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Constellation Brands enters $500M delayed draw term loan facility
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/16918/000119312525116925/0001193125-25-116925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/16918/000119312525116925/d61467d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-116925

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