Constellation Brands, Inc. $1.2 Billion Senior Notes Offering

Davis Polk advised the representatives of the several underwriters in connection with an SEC-registered offering by Constellation Brands, Inc. of $600 million aggregate principal amount of 2.875% senior notes due 2030 and $600 million aggregate principal amount of 3.750% senior notes due 2050. The net proceeds from the offerings were approximately $1.18 billion, which Constellation intends to use for redemption of existing notes and for general corporate purposes.

Constellation Brands is an international producer and marketer of beer, wine and spirits with operations in the United States, Mexico, New Zealand and Italy. Constellation is the third-largest beer company in the United States and a leading, higher-end wine company in the United States market. Constellation’s brand portfolio includes Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, Pacifico, the Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.

The Davis Polk corporate team included partner Derek Dostal and associates Angela Park and Alexander Kraik. Partner Patrick E. Sigmon and associate Bree Gong provided tax advice. Partner Frank J. Azzopardi and associate Jennifer Leather provided intellectual property advice. Counsel Loyti Cheng and associate Cristina Harshman provided environmental advice. Members of the Davis Polk team are based in the New York and Northern California offices.