DENVER & MONTREAL--(BUSINESS WIRE)--
Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) (“Molson Coors”)
announced today the pricing of its previously announced public offering
of $5.3 billion aggregate principal amount of its senior notes,
consisting of $500 million principal amount of 1.450% Senior Notes due
2019, $1.0 billion principal amount of 2.100% Senior Notes due 2021,
$2.0 billion principal amount of 3.000% Senior Notes due 2026 and $1.8
billion principal amount of 4.200% Senior Notes due 2046 (collectively,
the “Notes”). The offering is expected to close on or about July 7,
2016, subject to customary closing conditions.
After deducting underwriting discounts and commissions and estimated
offering expenses, Molson Coors expects to receive net proceeds from the
offering of approximately $5.255 billion.
Molson Coors intends to use the net proceeds of this offering to
partially fund the previously announced acquisition from Anheuser-Busch
InBev SA/NV of SABMiller plc’s interest in MillerCoors LLC and all other
assets primarily related to the Miller brand portfolio outside of
the United States and Puerto Rico (the “Acquisition”), and to pay
related fees and expenses of the Acquisition. The offering is not
conditioned on the closing of the Acquisition. Prior to the closing of
the Acquisition, Molson Coors intends to invest the net proceeds from
this offering in U.S. government securities, short-term certificates of
deposit, cash equivalents, money market funds or other short-term
investments or demand deposit accounts. In the event that the
Acquisition is not consummated, the Notes will be subject to a special
mandatory redemption. Molson Coors intends to access debt markets
internationally to raise the remaining proceeds necessary to fund the
Acquisition.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global
Markets Inc. and UBS Securities LLC are acting as joint book-running
managers for the offering.
The offering is being made pursuant to an effective shelf registration
statement (including a prospectus) filed with the Securities and
Exchange Commission (“SEC”), which became effective upon filing. A
preliminary prospectus supplement related to the offering was filed with
the SEC on June 28, 2016 and is available on the SEC’s website at www.sec.gov.
A final prospectus supplement related to the offering will be filed with
the SEC. A copy of the prospectus supplement and related prospectus for
the offering may be obtained by contacting: Merrill Lynch, Pierce,
Fenner & Smith Incorporated by mail at 200 North College Street,
NC1-004-03-43, Charlotte, NC, 28255-0001, Attn: Prospectus Department,
by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@baml.com;
Citigroup Global Markets Inc. by mail at c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
1-800-831-9146 or by email at prospectus@citi.com;
or UBS Securities LLC by mail at 1285 Avenue of the Americas, New York,
NY 10019, Attn: Prospectus Specialist or by telephone at 1-888-827-7275.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the Notes or any other security,
nor shall there be any sale of the Notes or any other security in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of such state or other jurisdiction.
Overview of Molson Coors
Molson Coors Brewing Company is a leading global brewer delivering
extraordinary brands that delight the world's beer drinkers. It brews,
markets and sells a portfolio of leading premium brands such as Coors
Light, Molson Canadian, Carling, Staropramen and Blue Moon across The
Americas, Europe and Asia. It operates in Canada through Molson Coors
Canada; in the US through MillerCoors; across Europe through Molson
Coors Europe; and outside these core markets through Molson Coors
International. The company is the only alcohol producer currently
recognized for world class sustainability performance through the Dow
Jones Sustainability Index. It was listed on the World Index for the
past four years and named global Beverage Sector Leader in 2012 and
2013. Molson Coors is constantly looking for ways to improve its Beer
Print.
Special Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements that are based
on management’s current expectations. Such statements include, without
limitation, plans, projections and estimates regarding the use of
proceeds from the proposed offering. Such forward-looking
statements are subject to certain risks, uncertainties and assumptions,
including, without limitation, prevailing market conditions and other
factors. Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results may
vary materially from those expected. More information about potential
risk factors that could affect Molson Coors and its results is included
in Molson Coors’s filings with the SEC, which are available at www.sec.gov.
You should not place undue reliance on forward-looking statements, which
speak only as of the date they are made. Molson Coors does not undertake
to update forward-looking statements, whether as a result of new
information, future events or otherwise.
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Source: Molson Coors