CONSTELLATION BRANDS, INC. (STZ) Form 8-K — Sep 18, 2026
Constellation Brands entered into a Term Loan Credit Agreement on September 18, 2026 with Manufacturers and Traders Trust Company as administrative agent, providing for a $300 million delayed-draw term loan available in up to two draws. The 8-K was filed under Items 1.01, 2.03 and 9.01, with the agreement attached as Exhibit 4.1. Terms include a commitment termination date of June 18, 2027, maturity two years after any initial borrowing, pricing of Term SOFR plus 0.700% to 1.100% (or Base Rate plus 0.000% to 0.100%) based on the company's S&P and Moody's ratings, and a 0.075% per annum ticking fee on unused commitments.
Key figures
- Debt Amount
- 300000000
- Interest Rate
- Term SOFR + 0.700% to 1.100% (or Base Rate + 0.000% to 0.100%), based on S&P/Moody's credit ratings
- Maturity Date
- Two years after the initial borrowing of the Term Loans, if any
- Ticking fee
- 0.075% per annum on unused commitments, accruing 30 days after effective date
- Facility type
- delayed draw term loan, up to two draws
- Cash netting cap
- 750000000
- Net leverage step up
- 4.50:1.00 for four fiscal quarters following a Material Acquisition
- Max net leverage ratio
- 4.00:1.00
- Commitment termination date
- June 18, 2027
- Min interest coverage ratio
- 2.50:1.00
- Material acquisition threshold
- 1000000000
AI analysis
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