US: Molson Coors secures US$1.9bn to fund StarBev deal
Molson Coors should complete the StarBev deal in this quarter
Molson Coors has sold US$1.9bn in debt securities to help pay for its buyout of Czech brewer StarBev.
Molson Coors paid CVC Capital Partners $3.54bn for StarBev last month. The deal is subject to European approval and is expected to close this quarter.
“We are very pleased with the pricing and terms of these financing transactions,” said Molson Coors CFO Stewart Glendinning.
The company said it issued $300 million of 2% senior notes due 2017, $500 million of 3.5% senior notes due 2022, and $1.1 billion of 5% senior notes due 2042.
StarBev, producers of Staropramen, will operate as a separate business within Molson Coors and remain headquartered in Czech Republic.
As macroeconomic volatility, the mature versus emerging market narrative, the craft revolution coming of age and shifting demographics all radically reshape the alcoholic drinks battleground, innovati...
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