Masonite International Corporation (NYSE: DOOR) today announced that it increased the size of its previously announced $100 million offering of senior notes to $125 million upon pricing.
The issuance of $125 million aggregate principal amount of 8¼% senior unsecured notes due 2021 (the “add-on notes”) will constitute an add-on to the $275 million aggregate principal amount of 8¼% Senior Notes due 2021 that were issued on April 15, 2011 and the $100,000,000 aggregate principal amount 8¼% Senior Notes due 2021 issued on March 9, 2012, forming a single series of debt securities.
The Company intends to use the net proceeds from the sale of the add-on notes for general corporate purposes, which may include funding future acquisitions. The add-on notes priced at 108.75% plus accrued interest from October 15, 2013, to yield to worst 5.704%. It is anticipated that settlement of the offering of add-on notes will be completed on January 21, 2014.
The notes and the related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended or any applicable state securities laws, and will be offered only to qualified institutional buyers in reliance on Rule 144A, and outside the United States in compliance with Regulation S under the Securities Act. Unless so registered, the notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.About Masonite Masonite International Corporation is a leading global designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling; and the non-residential building construction markets. Since 1925, Masonite has provided its customers with innovative products and superior service at compelling values. Masonite currently serves more than 6,000 customers in 70 countries. Additional information about Masonite can be found at www.masonite.com. Forward-Looking Statements This document includes forward-looking statements, all of which are subject to risks and uncertainties. One can identify these forward-looking statements by their use of words such as “may,” “might,” “will,” “should,” “would,” “outlook,” “estimates,” “projects,” “plans,” “proposes,” “anticipates,” “expects,” “intends,” “forecasts,” “targets,” “believes,” and other words of similar meaning, or by the fact that they do not relate strictly to historical or current facts. Readers must carefully consider any such statements and should understand that such statements are based on management's current estimates and assumptions and are subject to many factors, risks and uncertainties which could cause actual results and developments to differ materially from the Company's forward-looking statements. No forward-looking statement can be guaranteed and actual future results may vary materially. Therefore, we caution you not to place undue reliance on our forward-looking statements. The Company disclaims any responsibility to update these forward-looking statements, whether as a result of new information, future events or otherwise unless required by applicable law.