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Molson to Tap Debt Market

The big brewer wants to sell senior notes to pay down a credit line.
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Molson Coors


said it would sell some five- and 10-year senior notes this month in a bid to repay $1 billion in debt.

The brewer said its Molson Coors Capital Finance would make a private placement, with most notes sold in Canada to accredited investors and others sold in the U.S. to qualified institutional buyers under Rule 144A.

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The proceeds will be used to repay borrowings under a credit facility in which Molson Coors and some of its units are borrowers.

On Monday, shares of Molson Coors fell 41 cents to $65.65.