Form 8-K · Current report
Constellation Brands 8-K, filed Sep 18, 2026
- Filed
- CIK
- 0000016918
- Accession no.
- 0001193125-26-395558
Summary
Constellation Brands entered into a $300 million delayed-draw term loan credit agreement on September 18, 2026 with Manufacturers and Traders Trust Company as administrative agent and other lenders; the company says it intends to use any proceeds for general corporate purposes, including repayment of indebtedness.
Key points
- The facility allows up to two draws totaling $300 million, with commitments terminating no later than June 18, 2027.
- Term loans mature two years after the initial borrowing and bear interest at Term SOFR or Base Rate plus a margin based on Constellation Brands' credit ratings from S&P or Moody's.
- Unused commitments incur a 0.075% per annum ticking fee beginning 30 days after the effective date.
- The agreement requires a minimum consolidated interest coverage ratio of 2.50:1.00 and a maximum consolidated net leverage ratio of 4.00:1.00, stepping up to 4.50:1.00 for four quarters after a material acquisition.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement. On September 18, 2026 (the “Effective Date”), Constellation Brands, Inc. (the “Company”), Manufacturers and Traders Trust Company, as administrative agent (the “Administrative Agent”), and certain other lenders (the “Credit Agreement Lenders”), entered into a Term Loan Credit Agreement (the “Credit Agreement” and loans made thereunder the “Term Loans”). The Credit Agreement provides for a delayed draw term loan available in up to two draws in the aggregate principal amount of $300 million. …
An excerpt of the text as filed with the SEC, cut for length.
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