Davis Polk advised the administrative agent in connection with a $1.5 billion revolving credit facility provided to Molson Coors Brewing Company. The facility will be used to provide working capital from time to time and for other general corporate purposes.
Headquartered in Colorado, Molson Coors is the third-largest global brewer with approximately 18,000 employees worldwide. Its largest markets are the United States, Canada and Europe. Molson Coors has a diverse portfolio of owned and partner brands, including core brands Carling, Coors Light, Miller Lite, Molson Canadian and Staropramen, as well as craft and specialty beers such as the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Creemore Springs, Cobra and Doom Bar.
The Davis Polk financing team included partner Jason Kyrwood and associates Vanessa L. Jackson and Dane G. Ferre. Partner Nick Benham and associate Anne Cathrine Ingerslev provided U.K. corporate advice. The U.S. tax team included partner Rachel D. Kleinberg and associate Jonathan Atkins. Partner Jonathan Cooklin and associate Dominic Foulkes provided U.K. tax advice. Members of the Davis Polk team are based in the New York, London, Northern California and Washington DC offices.