Financing ·
JELD-WEN launches exchange offer for $400M of 2027 notes and up to $410.2M in new debt
JELDJELD-WEN Holding, Inc.
JELD-WEN Holding announced an exchange offer allowing holders of its outstanding $400 million, 4.875% Senior Notes due 2027 to swap them for new first lien senior secured notes due 2031. The company is also soliciting consents to amend the existing indenture and offering up to $410.2 million in additional principal amount of new notes through a concurrent new money offer. Existing term loan lenders may participate in a Dutch auction to have their loans purchased or exchanged for the new notes. Approximately 94.5% of the old notes are committed to tender, with 70.0% of the aggregate principal amount backed by commitments to purchase the new debt. The transactions expire on November 27, 2026. JELD-WEN is a leading global designer, manufacturer and distributor of high-performance interior and exterior doors, windows, and related building products.