Constellation
Brands, Inc. Extends Exchange
Offer
for 7.25% Senior Notes
FAIRPORT,
N.Y., Jan. 8, 2008 --
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international
producer and marketer of beverage alcohol (the “Company”), today announced that
it has extended its offer to exchange $700,000,000 aggregate principal amount
of
its 7.25% Senior Notes due 2017 (the “Exchange Notes”), which have been
registered under the Securities Act of 1933, as amended (the “Securities Act”)
for all $700,000,000 of its currently outstanding 7.25% Senior Notes due
2017,
which have not been registered under the Securities Act (the “Original
Notes”). The exchange offer, which had been scheduled to expire on
Jan. 7, 2008 at 5:00 p.m., New York City time, will now expire on Jan. 10,
2008,
at 5:00 p.m., New York City time, unless further extended by the
Company.
The
extension of
the exchange offer has been made to allow holders of outstanding Original
Notes
who have not yet tendered their Original Notes for exchange additional time
to
do so. All other terms, provisions and conditions of the exchange
offer will remain in full force and effect.
As
of
5:00 p.m. New York City time, Jan. 7, 2008, $697,499,000 in aggregate principal
amount of the Original Notes had been validly tendered and not withdrawn
in the
exchange offer, representing approximately 99.6% of the outstanding principal
amount of the Original Notes. Persons with questions regarding the
exchange offer should contact the exchange agent, The Bank of New York Trust
Company, N.A., at 212-815-2742.
The
Company will
not receive any proceeds from the exchange offer, nor will the Company’s debt
level change as a result of this exchange offer. The terms of
the
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more
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2 -
Exchange
Notes and
the Original Notes are substantially identical in all material respects,
except
that the Exchange Notes have been registered under the Securities
Act. This news release shall not constitute an offer to exchange, nor
a solicitation of an offer to exchange, the Original Notes. A copy of
the prospectus for the exchange offer, dated Dec. 6, 2007, and related letter
of
transmittal, which have been filed with the United States Securities and
Exchange Commission, may be obtained by calling the exchange agent, The Bank
of
New York Trust Company, N.A., at 212-815-2742.
About
Constellation Brands
Constellation Brands, Inc. is a leading international producer and marketer
of
beverage alcohol in the wine, spirits and imported beer categories, with
significant market presence in the U.S., Canada, U.K., Australia and New
Zealand. Based in Fairport, N.Y., the company has more than 250 brands in
its
portfolio, sales in approximately 150 countries and operates approximately
60
wineries, distilleries and distribution facilities.
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