TAP · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
MOLSON COORS BEVERAGE CO (TAP, TAP-A) · 2026-08-06 · Importance 91 · Surprise 88 · From source text
Cash and cash equivalents increased to $2,128.1 million at June 30, 2026, from $896.5 million at December 31, 2025 and $613.8 million a year earlier. The company issued $500 million of 4.9% senior notes due 2031, CAD 500 million of 4.3% senior notes due 2033 and $1.0 billion of 5.5% senior notes due 2036, then used proceeds and cash on hand to repay $2.0 billion of 3.0% senior notes at maturity on July 15, 2026. The amended $2.0 billion multi-currency revolving facility matures June 26, 2030 and was fully available at June 30, with approximately $1.8 billion available as of August 6 after $0.2 billion of commercial paper borrowings. The company remained compliant with debt covenants and maintained BBB/Stable, Baa1/Stable and BBB/Stable long-term ratings from S&P, Moody’s and DBRS.
Key facts
- As of June 30, 2026, the company had $2.0 billion available to draw on its amended and restated $2.0 billion multi-currency revolving credit facility with maturity date June 26, 2030. source
- As of August 6, 2026, commercial paper outstanding was approximately $0.2 billion and approximately $1.8 billion was available to draw on the $2.0 billion revolving credit facility. source
- Net cash provided by financing activities for the six months ended June 30, 2026: $1,026.9 million, increased $1,533.1 million compared to $506.2 million used in financing activities for the six months ended June 30, 2025. source
- Total current assets of the Obligor Group as of June 30, 2026: $3,404.1 million compared to $1,861.3 million as of December 31, 2025. source
- Total cash and cash equivalents as of June 30, 2026: $2,128.1 million, compared to $896.5 million as of December 31, 2025 and $613.8 million as of June 30, 2025. source
- Maximum net debt to EBITDA leverage ratio under the revolving credit facility was 4.00x as of June 30, 2026 and December 31, 2025, and the company was in compliance with all covenants as of June 30, 2026. source
- The company maintained long-term credit ratings of BBB/Stable (S&P), Baa1/Stable (Moody's) and BBB/Stable (DBRS) and short-term ratings A-2, Prime-2 and R-2 respectively as of the report date. source
- The company does not have any restrictions that prevent or limit its ability to declare or pay dividends as of the report date. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +6.3% | Total current assets of the Obligor Group as of June 30, 2026: $3,404.1 million compared to $1,861.3 million as of December 31, 2025. |
| cash | positive | realized | +6.3% | Net cash provided by financing activities for the six months ended June 30, 2026: $1,026.9 million, increased $1,533.1 million compared to… |
| liability | negative | realized | — | As of August 6, 2026, commercial paper outstanding was approximately $0.2 billion and approximately $1.8 billion was available to draw on… |