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Constellation Brands Announces Full Redemption of 6.000% Senior Notes Due 2022

CONSTELLATION BRANDS (STZ)  More Company Research Source: GlobeNewswire
Last constellation brands earnings: 3/29 07:30 am Check Earnings Report
US:NYSE Investor Relations: cbrands.com/investors
PDF VICTOR, N.Y., Jan. 29, 2018 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, announced today that it has given notice for full redemption prior to maturity of all of its outstanding 6.000% Senior Notes due 2022 (CUSIP Number:  21036PAH1) (the “notes”) to be effected on February 28, 2018 (the “redemption date”). As of January 29, 2018, there were $600.0 million in aggregate principal amount of the notes outstanding. The redemption price for the notes, payable in cash, will be calculated pursuant to the formula set forth in the supplemental indenture relating to the notes, and will include a make-whole premium of approximately $74.4 million which will be recorded as loss on extinguishment of debt for the fourth quarter of fiscal 2018. This expense is expected to reduce fiscal 2018 reported basis diluted earnings per share by approximately $0.26 and will be excluded from comparable basis diluted earnings per share. About Cons [Read more]

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