FX.co ★ MasterBrand Plans To Offer $700 Mln Senior Notes Due 2032 - Quick Facts

MasterBrand (MBC) announced its intention to offer $700 million in Senior Notes due 2032. These Notes will be issued by the company and guaranteed on a senior unsecured basis by the subsidiaries that back the company’s credit facility. The offering will be exclusively available to individuals believed to be qualified institutional buyers.

The company plans to utilize the net proceeds, along with borrowings from a new revolving credit facility and existing cash reserves, for multiple purposes. These include funding the previously announced acquisition of Supreme Cabinetry Brands, refinancing the company's current revolving credit facility and Term Loan A credit facility, and covering the fees and expenses related to the refinancing of the current credit agreement, the issuance of the Notes, and the acquisition of Supreme.