WKN: | A0J3MR |
ISIN: | US69336V1017 |
Land: | USA |
Branche: | Sonstiges |
Sektor: | Bau und Bauzulieferer |
aktueller Kurs: |
39,00 EUR
|
Veränderung: |
0,30 EUR
|
Veränderung in %: |
0,78 %
|
NORTH VENICE, Fla. –
PGT Innovations, Inc. (NYSE: PGTI) (“PGTI” or the “Company”), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, announced today the pricing of its previously announced private offering of $60 million aggregate principal amount of additional 6.75% senior notes due 2026 (the “Additional Notes”), which are being issued at 105.500% of their principal amount, plus accrued interest from August 1, 2020. The offering of the Additional Notes is expected to close on January 26, 2021, subject to customary closing conditions. The Additional Notes are part of the same issuance of, and will rank equally and form a single series with, the $365.0 million aggregate principal amount of the Company’s 6.75% senior notes due 2026, $315 million aggregate principal amount of which were issued on August 10, 2018 and $50 million aggregate principal amount of which were issued on January 24, 2020 (the “Existing Notes” and, together with the Additional Notes, the “Notes”). The Additional Notes will have the same terms as the Existing Notes (except with respect to issue date and the date from which interest accrues).
The Additional Notes are being offered to finance, together with cash on hand, the cash portion of the purchase price of the previously announced acquisition by the Company of 75% of the outstanding equity interests of New ECO Windows Holding, LLC, which was previously announced on January 7, 2021, and is expected to close in the first quarter of 2021 (the “ECO Acquisition”). If the ECO Acquisition does not close, PGTI intends to apply proceeds of the Additional Notes to repay amounts outstanding under its existing term loan credit facility and for general corporate purposes, including future acquisitions.
The Additional Notes will be guaranteed, jointly and severally, by each existing and future domestic restricted subsidiary of the Company, other than any restricted subsidiary of the Company that does not guarantee the Company’s existing senior secured credit facilities or any permitted refinancing thereof (the “Guarantors”). In this regard, upon the consummation of the ECO Acquisition, New Holding and its subsidiaries will be designated as unrestricted subsidiaries under the indenture and the credit agreement governing the Company’s existing senior secured credit facilities and will not become Guarantors of the Notes or be guarantors of the Company’s existing senior secured credit facilities.
The Additional Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act, and to non U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Additional Notes have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Additional Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Act.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are statements other than historical fact, and include statements relating to the offering of Additional Notes, including the use of proceeds therefrom. These “forward-looking statements” involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward- looking terminology, such as “may,” “expect,” “expectations,” “outlook,” “forecast,” “guidance,” “intend,” “believe,” “could,” “project,” “estimate,” “anticipate,” “should” and similar terminology. These risks and uncertainties include factors such as:
Statements in this press release that are forward-looking statements include, without limitation, our expectations regarding the expected ECO Acquisition and the expected closing of the offering of the Additional Notes. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210111006021/en/
Investieren in die besten Aktien der Welt
Der Grundstein für den langfristigen Börsen-Erfolg wird durch die Wahl der richtigen Aktien gelegt! Dabei gilt es aus den weltweit zigtausend börsennotierten Werten jene herauszufiltern, die das investierte Kapital dauerhaft vermehren. Der boerse.de-Aktienbrief identifiziert genau diese Aktien und gibt dazu konkrete Kaufempfehlungen. Überzeugen Sie sich selbst mit zwei unverbindlichen und kostenlosen Ausgaben!