Constellation Brands has launched a public offering to raise US$500m.

The company said yesterday (8 August) that the senior notes would be due in 2016. The notes will be guaranteed by the subsidiaries that are guarantors under Constellation's senior bank credit facility.

The US drinks giant said it plans to use the net proceeds from the sale of the notes to "reduce a corresponding amount of borrowings under its senior bank credit facility".

Citigroup Global Markets and J.P. Morgan Securities are acting as the joint book-running managers for the offering, with Scotia Capital (USA) and Banc of America Securities acting as co-managers.