CUYAHOGA FALLS, Ohio, Nov. 3, 2016 /PRNewswire/ -- Associated Materials Group, Inc. ("Parent") today announced that it priced an offering of $675.0 million in aggregate principal amount of its 9.00 % senior secured notes due 2024 (the "notes") at an issue price of 97.0 % of the principal amount thereof. The notes will be Parent's senior secured obligations. The proceeds of this offering will be held in escrow until such time as Parent closes the convertible preferred stock and warrants sale described below. Upon such closing, Associates Materials, LLC (the "Company") and its wholly-owned subsidiary, AMH New Finance, Inc. ("AMH Finance" and, together with the Company, the "issuers") will assume Parent's obligations under the notes, the notes will be guaranteed by all of the Company's direct and indirect domestic subsidiaries (other than AMH Finance). Parent will be released from its obligations under the notes and the escrowed net proceeds relating to the offering of the notes will be released to the Company. Parent has also entered into an agreement with certain investors pursuant to which Parent agreed to issue convertible preferred stock and warrants to purchase shares of common stock of Parent. Upon consummation of the issuance of the convertible preferred stock, Parent expects to contribute net proceeds of approximately $273 million from such sale to the Company. The Company intends to use the net proceeds of the offering of the notes, together with drawings under its amended and restated asset-based credit facility and the cash contributed to its capital in connection with the issuance by Parent of the convertible preferred stock and the warrants, to (i) complete a tender offer for any and all of the issuers' outstanding 9.125 % senior secured notes due 2017 (the "2017 notes"), (ii) redeem, satisfy and discharge any of the 2017 notes that are not purchased in the tender offer, (iii) repay certain indebtedness outstanding under the Company's existing asset-based credit facility (the "credit facility"), (iv) repay the indebtedness outstanding under a first lien promissory note made by the issuers and certain of their affiliates in favor of an affiliate of Hellman & Friedman LLC and (v) pay fees and expenses related to the foregoing. The Company intends to use any remaining net proceeds for other general corporate purposes. The issuance and sale of the notes is expected to close on or about November 22, 2016, and the closing of the sale of the convertible notes and warrants is expected to close by November 30, 2016. Each such closing is subject to customary closing conditions. In connection with these transactions, the Company also intends to extend the credit facility.