On November 2, 2014, Jose Cuervo and Diageo terminated by mutual consent the distribution agreement for vodka Smirnoff in Mexico.
On February 27, 2015, Jose Cuervo sold its 50% of the shares of Tequila Don Julio to Diageo. Concurrently with this transaction, Jose Cuervo acquired from Diageo 100% of the shares of Old Bushmills Distillery Company (“Bushmills”), owner and producer in Northern Ireland of Bushmills Irish whisky. To finance said acquisition the company draw a USD 500 million short term loan bridge loan.
On May 13, 2015, Jose Cuervo issued a 10 year USD 500 million bond 144 A - Regulation S to refinance the short term facility. The long term facility expires in May 12, 2025 and has a 3.75% annual interest coupon with interest payments every six months.