Brown-Forman Corp. said it will offer a $300 million, seven-year senior unsecured note and a $300 million 20-year senior unsecured note. The 3.5% 7-year senior notes are due April 15, 2025 and the 4.0% 20-year senior notes are due April 15, 2038.
Proceeds will be used for general corporate purposes, including to pay the company’s recently announced special cash dividend which will be paid on April 23, 2018 to stockholders of record on April 2, 2018.
Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., U.S. Bancorp Investments, Inc., J.P. Morgan Securities, LLC. PNC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers.