Constellation brands to call, prepay $250M in senior notes; adds 2 years to credit facility

Constellation Brands to prepay $250M in bonds

VICTOR, N.Y. — Wine and spirits distributor Constellation Brands Inc. on Tuesday said it plans to prepay $250 million in bonds next month.

The company said it will call all of its 8 1/8 percent senior subordinated notes due Jan. 15, 2012, on Feb. 25.

Constellation also said it amended its senior credit facility to extend $650 million of its revolving credit until June 2013, adding two years to the line. It will use borrowings from this credit line to prepay the bonds.

The company also extended $300 million of its $1.2 billion term loan by two years to 2015.