Constellation Increases RC For Vodka Acquisition

Constellation Brands tapped the bank market last week for a $400 million add-on to its existing revolver.

  • 09 Feb 2007
Email a colleague
Request a PDF

Constellation Brands tapped the bank market last week for a $400 million add-on to its existing revolver. The additional funds will be used to back the company's acquisition of the Svedka vodka brand and business for approximately $384 million. Pricing for the add-on could not be determined.

Fairport, N.Y.-based Constellation hit up JPMorgan, Citigroup and Scotia Capital for a $1.4 billion credit in May to back its acquisition of Vincor International (CIN, 6/1). That deal consists of a $500 million revolver, a $700 million term loan "A" and a $2.3 billion "B" term loan. The debt is priced at LIBOR plus 1 1/4% on the pro rata and LIBOR plus 1 1/2% for the "B" tranche.

The supplier and marketer of alcoholic beverages announced last Tuesday it was acquiring the imported Swedish brand from Guillaume Cuvelier and Belgian-based Alcofinance S.A. Constellations' portfolio includes wine, spirits and imported beers. Calls to Thomas Summer, cfo, were not returned.

  • 09 Feb 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,542.69 67 10.85%
2 JPMorgan 18,820.53 50 9.94%
3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%