TAMPA, Fla.--(BUSINESS WIRE)--
Masonite International Corporation (NYSE:DOOR) (the “Company”) announced
today that it priced an offering of $475 million aggregate principal
amount of its 5.625% senior unsecured notes due 2023 (the “notes”) in a
private offering that is exempt from the registration requirements of
the Securities Act of 1933, as amended (the “Securities Act”). Subject
to customary closing conditions, this offering is expected to close on
March 23, 2015.
The Company intends to use the net proceeds from the sale of the notes,
together with existing available cash balances, to redeem all $500.0
million aggregate principal amount of its existing 8.25% Senior Notes
due 2021 (the “Existing Senior Notes”) and to pay related premiums, fees
and expenses. The obligation of the Company to redeem the Existing
Senior Notes will be conditioned upon the consummation of this offering
of notes.
The notes are being offered only to qualified institutional buyers in
reliance on Rule 144A under the Securities Act, and outside the United
States, only to non-U.S. investors pursuant to Regulation S of the
Securities Act. The notes will not be registered under the Securities
Act or any state securities laws and may not be offered or sold in the
United States absent an effective registration statement or an
applicable exemption from, or a transaction not subject to, the
registration requirements of the Securities Act and applicable state
securities laws. This news release does not constitute an offer to sell
or a solicitation of an offer to buy any of the notes, nor does it
constitute an offer, solicitation or sale in any jurisdiction in which
such offer, solicitation or sale is unlawful.
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.
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 7,000 customers
in 80 countries.
Source: Masonite International Corporation
Masonite International Corporation
Joanne Freiberger, 813-739-1808
Vice
President and Treasurer
investorrelations@masonite.com