Morningstar

Brown-Forman to Offer $500 Million in Debt

Provided by Dow Jones Sep 18, 2026, 11:52:00 AM

By Kelly Cloonan

Brown-Forman is offering $500 million in debt as it contends with sluggish demand for alcohol.

The spirits maker said Thursday the 5.375% five-year senior unsecured notes are due Oct. 15, 2031.

The company said it plans to use the proceeds from the offering for general corporate purposes, which could include dividends, stock repurchases or repaying existing debt. The company also said it could use the proceeds for working capital, capital expenditures, acquisitions and funding its pension plan obligations.

The debt offering comes amid a years-long slump in the U.S. alcohol industry, which has weighed on Brown-Forman's sales.

The Jack Daniel's maker has also contended with a takeover offer from rival Sazerac, which it has rebuffed, after its deal negotiations with French spirits company Pernod Ricard fell apart earlier this year.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

September 18, 2026 07:52 ET (11:52 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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