J.B. Poindexter & Co. Inc. unveils offering of $250 million worth Senior Unsecured Notes
J.B. Poindexter & Co., Inc. Announces $250 Million Senior Unsecured Notes Offering
J.B. Poindexter & Co., Inc., a privately-held company specialising in the design, manufacture, and marketing of various products, has announced a private offering of $250 million senior unsecured notes due 2031. The notes, priced at 100.500% of the principal amount plus accrued interest, will bear an 8.750% annual interest rate.
The offering, which is expected to close on August 4, 2025, subject to market conditions, includes notes that are guaranteed by certain subsidiaries of the company. The notes are part of a single series with the company's previously issued 8.750% senior notes due 2031 from December 18, 2023, with the same terms except for issue price and date.
The net proceeds from the offering are intended to be used for various purposes, including paying related fees and expenses, repaying a $175 million bridge credit facility, and using the remaining proceeds to repay the company’s asset-based lending facility.
The press release, issued by Business Wire, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The intended use of proceeds from the offering, as well as the timing and completion of the offering, are included in these forward-looking statements.
For more information, you can contact Matt Eul, the Director of Marketing at J.B. Poindexter & Co, Inc., at [email protected] or by phone at 641-629-0921. The New 2031 Notes are being offered only to qualified institutional buyers and non-U.S. persons.
It's important to note that the Company assumes no obligation to update any forward-looking statements or information.
[1] Repayment of the asset-based lending facility is subject to the satisfaction of certain conditions.
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