Molson Coors Beverage Company, known as Molson Coors, has finalized the pricing of its public offering, which was previously announced. The offering consists of €800,000,000 aggregate principal amount of its 3.800% Senior Notes due 2032. The company expects the offering to close around May 29, 2024, subject to customary closing conditions.
After accounting for underwriting discounts and estimated offering expenses, Molson Coors anticipates net proceeds of approximately €793.5 million. These funds are earmarked for general corporate purposes, including the repayment of the €800.0 million notes issued on July 7, 2016, upon their maturity in July 2024.
The joint book-running managers for the offering are Citigroup Global Markets Limited, BofA Securities, Goldman Sachs & Co. LLC, Bank of Montreal London Branch, J.P. Morgan Securities plc, RBC Europe Limited, and Scotiabank (Ireland) Designated Activity Company.
This offering is being conducted under an effective shelf registration statement filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement was filed on May 22, 2024, and can be accessed on the SEC’s website. A final prospectus supplement related to the offering will also be filed with the SEC. Interested parties can obtain copies of the prospectus and related preliminary prospectus supplement from the respective institutions involved.
It’s important to note that this press release serves informational purposes only and does not constitute an offer to sell or a solicitation to buy any of the Notes or any other security. The sale of the Notes or any other security is subject to registration or qualification under the securities laws of the relevant jurisdiction.
Molson Coors Beverage Company has a rich history spanning more than two centuries, brewing beverages that bring people together to celebrate life’s moments. Beyond its core beer brands like Coors Light and Miller Lite, the company offers a diverse portfolio including flavored beverages, spirits, and non-alcoholic drinks.
Forward-looking statements included in this press release are subject to various risks, uncertainties, and assumptions, including prevailing market conditions. Actual results may differ materially from those expected due to these factors. More information about potential risk factors affecting Molson Coors can be found in its filings with the SEC.
In essence, Molson Coors aims to leverage this offering to advance its corporate objectives, while acknowledging potential risks and uncertainties inherent in forward-looking statements.
