Brown-Forman Corp (BFb)
29 Jul 2016
* Forman stockholders approve increase in Class A shares to implement stock split
* Will establish its own distribution organization in Spain, effective July 1, 2017
BRIEF-Brown-Forman priced offering of EUR 300 mln aggregate principal amount of 1.200% notes due 2026
* Forman - on june 30, also priced offering of £300 million aggregate principal amount of 2.600% notes due 2028
(The following statement was released by the rating agency) CHICAGO, June 30 (Fitch) Fitch Ratings has assigned an 'A' rating to Brown-Forman Corporation's (Brown-Forman) multi-tranche offering including EUR300 million 10-year senior notes and GBP300 million 12-year senior notes. The Rating Outlook is Negative. Brown-Forman intends to use the net proceeds of the multi-tranche offering for general corporate purposes and to repay commercial paper indebtedness, a portion of which was incurred
* Forman Corp CEO Paul Varga's FY 2016 total compensation $9.6 million versus $11.02 million in FY 2015 - SEC Filing Source text for Eikon: (http://1.usa.gov/296JdJm) Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
* CEO Paul Varga's FY 2016 total compensation was $9.6 million versus $11 million in FY 2015 - SEC filing
LONDON French spirits maker Marie Brizard is teaming up with Sazerac to sell the U.S. company's American drink brands Fireball and Southern Comfort in France and other European countries, sources told Reuters.
* Sees fiscal year 2017 underlying net sales growth of 4% to 6%
NEW YORK Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest online edition.
* Board announces 2-for-1 stock split and declares cash dividend