The US/Australian wine group, Constellation Brands, has said that it plans to issue 9.5m Class A common shares and US$150m in mandatory convertible preferred shares under its existing shelf registration.
Constellation said the funds raised from the issue would go towards repaying borrowings under the bridge loans which it incurred to finance its US$1.1 billion acquisition of the Australian wine company, BRL Hardy, in March.
Go deeper with GlobalData
