Constellation Brands signs $300 million delayed-draw term loan credit agreement with M&T Bank-led lenders
Bitget2026/09/18 20:16- Constellation Brands entered a Term Loan Credit Agreement on Sept. 18, 2026 with M&T Bank as administrative agent.
- Delayed-draw term loan commitments total USD 300 million, available in up to two draws for general corporate purposes or debt repayment.
- Commitments end when fully drawn, on the second funding date, or June 18, 2027; term loans mature two years from initial borrowing.
- Pricing set at Term SOFR plus 0.7%-1.1% or base rate plus 0%-0.1%, tied to credit ratings.
- Includes 2.5x minimum interest coverage covenant; net leverage cap 4x, stepping up to 4.5x for four quarters post-material acquisition.
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