Constellation brands announces exchange of canopy notes

Victor, n.y., june 29, 2022 (globe newswire) -- constellation brands, inc. (nyse: stz and stz.b), a leading beverage alcohol company, announced today that its indirect, wholly-owned subsidiary, greenstar canada investment limited partnership (“greenstar”), has entered into an exchange agreement (the “exchange agreement”) with canopy growth corporation (“canopy”), pursuant to which greenstar has agreed to sell an aggregate of c$100,000,000 principal amount of outstanding 4.25% senior notes due 2023 (“notes”) to canopy in consideration for common shares (“common shares”) in the capital of canopy (other than in respect of accrued but unpaid interest which will be paid in cash). the transaction forms part of an exchange by canopy of an aggregate of approximately c$255,373,000 principal amount of notes held by certain holders, including greenstar (together, the “exchanging holders”) into common shares.
STZ Ratings Summary
STZ Quant Ranking