Constellation Brands is placing US$800m worth of senior notes

Constellation Brands is placing US$800m worth of senior notes

Constellation Brands has announced the public placing of US$800m-worth of senior notes. 

The bonds consist of $400m of 3.875% senior notes due in 2019 and $400m worth of 4.75% senior notes due in 2024, the New York state-headquartered company said. The offering is expected to close on 3 November. 

Constellation said it will use the proceeds for redeeming $500m worth of senior notes due this calendar year and “general corporate purposes”. 

Earlier this month, the company reported a healthy rise in half-year sales, but profits slumped from a one-off payment related to its full takeover of Crown Imports last year.