Constellation Brands’ $1 Billion Senior Notes Offering

McDermott Will & Emery represented Constellation Brands, while Davis Polk advised the representatives of the several underwriters in the offering.

Constellation Brands, Inc. executed its of $1 billion aggregate principal amount of 2.250% senior notes due 2031. The net proceeds from the offering were approximately $989.05 million, which Constellation intends to use for redemption of existing notes and for general corporate purposes.

Constellation Brands is an international producer and marketer of beer, wine and spirits with operations in the United States, Mexico, New Zealand and Italy. Constellation is the third-largest beer company in the United States and a leading, higher-end wine company in the United States market. Constellation’s brand portfolio includes Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, Pacifico, the Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.

The Davis Polk corporate team advising BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, the joint book-running managers of the offering and as the representatives of the underwriters, included partner Derek Dostal (Picture) and associates Johnathan M. Nixon and Livia Maas. Partner Patrick E. Sigmon and associate Bree Gong provided tax advice. Partner Frank J. Azzopardi and associate Joshua Cameron Shirley provided intellectual property advice. Counsel Loyti Cheng and associate Cristina Harshman provided environmental advice.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Bree Gong – Davis Polk & Wardwell; Cristina Harshman – Davis Polk & Wardwell; Livia Maas – Davis Polk & Wardwell; Johnathan Nixon – Davis Polk & Wardwell; Joshua Cameron Shirley – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; Goldman Sachs & Co.; J.P. Morgan Securities LLC;

Author: Martina Bellini