Cahill Represents Underwriters and Lead Arrangers in $5.3bn Debt Financing for the Acquisition of Grupo Modelo’s U.S. Business by Constellation Brands
Cahill represented BofA Merrill Lynch, J.P. Morgan, Rabo Securities, Barclays, and Wells Fargo Securities as joint book-running managers and the co-managers in connection with the public offering of $1,550,000,000 of Senior Notes, comprised of $500,000,000 aggregate principal amount of 3.750% Senior Notes due 2021 and $1,050,000,000 aggregate principal amount of 4.250% Senior Notes due 2023 by Constellation Brands, Inc.
Cahill represented BofA Merrill Lynch as administrative agent and lead arranger and J.P. Morgan, Barclays, Rabobank, CoBank, and Wells Fargo as lead arrangers in connection with A $3,787,500,000 credit agreement comprised of U.S. Term A Loans, U.S. Term A-1 Loans, U.S. Term A-2 Loans, European Term A Loans, European Term B Loans and A Revolving credit facility for Constellation Brands, Inc. and CIH International S.a.r.l.
Proceeds from the notes offering and credit facility were used to refinance existing indebtedness and to finance the acquisition by Constellation Brands of the remaining 50% ownership interest in Crown Imports LLC, Grupo Modelo’s Piedras Negras brewery, and an irrevocable, fully-paid license to produce and exclusively import, market and sell the Grupo Modelo Mexican beer portfolio and certain extensions thereof in the U.S.