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Molson Coors Brewing Company Announces Pricing of its Public Offering of Euro-Denominated Senior Notes

Del

Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) (“Molson Coors”) announced today the pricing of its previously announced public offering of €800 million aggregate principal amount of its 1.250% Senior Notes due 2024 (the “Notes”). The offering is expected to close on or about July 7, 2016, subject to customary closing conditions.

After deducting underwriting discounts and commissions and estimated offering expenses, Molson Coors expects to receive net proceeds from the offering of approximately €794.6 million. Substantially concurrently with the offering, Molson Coors expects to issue $5.3 billion aggregate principal amount of its senior notes, consisting of $500 million principal amount of 1.450% Senior Notes due 2019, $1.0 billion principal amount of 2.100% Senior Notes due 2021, $2.0 billion principal amount of 3.000% Senior Notes due 2026 and $1.8 billion principal amount of 4.200% Senior Notes due 2046 and Molson Coors International LP, a wholly-owned indirect subsidiary of Molson Coors, expects to issue in a private offering C$1 billion aggregate principal amount of its senior notes, consisting of C$500 million principal amount of 2.840% Senior Notes due 2023 and C$500 million principal amount of 3.440% Senior Notes due 2026 (together, the “Concurrent Offerings”). The aggregate principal amount of this offering, together with the Concurrent Offerings, is equivalent to approximately $6.9 billion.

Molson Coors intends to use the net proceeds of this offering and the Concurrent Offerings to partially fund the previously announced acquisition from Anheuser-Busch InBev SA/NV of SABMiller plc’s interest in MillerCoors LLC and all other assets primarily related to the Miller brand portfolio outside of the United States and Puerto Rico (the “Acquisition”), and to pay related fees and expenses of the Acquisition. The offering is not conditioned on the closing of the Acquisition or on the closing of any of the Concurrent Offerings. Prior to the closing of the Acquisition, Molson Coors intends to invest the net proceeds from this offering in U.S. government securities, short-term certificates of deposit, cash equivalents, money market funds or other short-term investments or demand deposit accounts. In the event that the Acquisition is not consummated, the Notes will be subject to a special mandatory redemption.

Merrill Lynch International, Citigroup Global Markets Limited and UBS Limited are acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement (including a prospectus) filed with the Securities and Exchange Commission (“SEC”), which became effective upon filing. A preliminary prospectus supplement related to the offering was filed with the SEC on June 29, 2016 and is available on the SEC’s website at www.sec.gov. A final prospectus supplement related to the offering will be filed with the SEC. A copy of the prospectus supplement and related prospectus for the offering may be obtained by contacting: Merrill Lynch International by mail at c/o Merrill Lynch, Pierce, Fenner & Smith Incorporated, 200 North College Street, NC1-004-03-43, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@baml.com; Citigroup Global Markets Limited by mail at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146 or by email at prospectus@citi.com; or UBS Limited by mail at 1 Finsbury Avenue, London EC2M 2PP, United Kingdom, Attn: Fixed Income Syndicate or by telephone at (+44) 20 7567 2477.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the Notes or any other security, nor shall there be any sale of the Notes or any other security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

Overview of Molson Coors

Molson Coors Brewing Company is a leading global brewer delivering extraordinary brands that delight the world's beer drinkers. It brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Staropramen and Blue Moon across The Americas, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; across Europe through Molson Coors Europe; and outside these core markets through Molson Coors International. The company is the only alcohol producer currently recognized for world class sustainability performance through the Dow Jones Sustainability Index. It was listed on the World Index for the past four years and named global Beverage Sector Leader in 2012 and 2013. Molson Coors is constantly looking for ways to improve its Beer Print.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on management’s current expectations. Such statements include, without limitation, plans, projections and estimates regarding the Concurrent Offerings and the use of proceeds from the proposed offering. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including, without limitation, prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Molson Coors and its results is included in Molson Coors’s filings with the SEC, which are available at www.sec.gov . You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Molson Coors does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.

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Contact information

Molson Coors Brewing Company
News Media
Colin Wheeler, 303-927-2443
or
Investor Relations
Dave Dunnewald, 303-927-2334

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