JELD-WEN Announces $800 Million Senior Notes Offering
CHARLOTTE, N.C.--(BUSINESS WIRE)--
JELD-WEN Holding, Inc. (“JELD-WEN”) (NYSE: JELD) today announced that
its direct, wholly-owned subsidiary, JELD-WEN, Inc. (the “Issuer”),
plans to conduct an offering of $400 million in aggregate principal
amount of senior notes due 2025 (the “2025 Notes”) and $400 million in
aggregate principal amount of senior notes due 2027 (the “2027 Notes”
and together with the 2025 Notes, the “Notes”) in a private placement
exempt from registration under the Securities Act of 1933, as amended
(the “Securities Act”), subject to market conditions.
The Notes will be guaranteed by each of the Issuer’s existing and future
direct or indirect domestic subsidiaries that guarantees indebtedness
under its term loan agreement (as amended from time to time, the “Term
Loan Credit Agreement”), and the asset-based revolving credit agreement
(as amended from time to time, the “ABL Credit Agreement”) under which
the Issuer and JELD-WEN of Canada, Ltd. are borrowers, subject to
certain exceptions. The Issuer intends to use the net proceeds from the
offering, together with cash on hand, to partially repay its outstanding
indebtedness under the Term Loan Credit Agreement in connection with
extending the maturities of the existing Term Loan Credit Agreement and
ABL Credit Agreement. Net proceeds will also be used to pay related
transaction fees and expenses and for general corporate purposes.
The Notes will be offered in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities Act, and
to certain non-U.S. persons in transactions outside of the United States
in reliance on Regulation S under the Securities Act. The Notes will not
be registered under the Securities Act or the securities laws of any
state or jurisdiction, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements.
This press release shall not constitute an offer to sell or the
solicitation of an offer to purchase the Notes, nor shall there be any
sale of the Notes in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
About JELD-WEN
JELD-WEN founded in 1960, is one of the world’s largest door and window
manufacturers, operating over 120 manufacturing facilities in 19
countries located primarily in North America, Europe and Australia.
Headquartered in Charlotte, North Carolina, JELD-WEN designs, produces
and distributes an extensive range of interior and exterior doors, wood,
vinyl and aluminum windows and related products for use in the new
construction and repair and remodeling of residential homes and
non-residential buildings. JELD-WEN is a recognized leader in
manufacturing energy-efficient products and has been an ENERGY STAR®
Partner since 1998. Our products are marketed globally under the
JELD-WEN® brand, along with several market-leading regional brands such
as Swedoor® and DANA® in Europe and Corinthian®, Stegbar®, and Trend® in
Australia.
Forward-Looking Statements
This press release contains forward-looking statements. All statements
other than statements of historical fact contained in this press release
are forward-looking statements, including all statements regarding the
offering of the Notes. Forward-looking statements are generally
identified by our use of forward-looking terminology such as
“anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”,
“intend”, “may”, “might”, “plan”, “potential”, “predict”, “seek”, or
“should”, or the negative thereof or other variations thereon or
comparable terminology. Where, in any forward-looking statement, we
express an expectation or belief as to future results or events, such
expectation or belief is based on the current plans, expectations,
assumptions, estimates, and projections of our management. Although we
believe that these statements are based on reasonable expectations,
assumptions, estimates and projections, they are only predictions and
involve known and unknown risks, many of which are beyond our control,
that could cause actual outcomes and results to be materially different
from those indicated in such statements.
Our actual results could differ materially from the results contemplated
by these forward-looking statements due to a number of factors,
including, but not limited to, the factors discussed in our Annual
Report on Form 10-K for the year ended December 31, 2016, and our
Quarterly Reports on Form 10-Q, both filed with the Securities and
Exchange Commission
The forward-looking statements included in this press release are made
as of the date hereof, and except as required by law, we undertake no
obligation to update, amend or clarify any forward-looking statements to
reflect events, new information or circumstances occurring after the
date of this release.

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JELD-WEN Holding, Inc.
Investor Relations:
John Linker,
+1-704-378-7007
investors@jeldwen.com
or
CMD
Media
Relations:
Gary Rubin, +1-503-488-4443
JELD-WEN@cmdagency.com
Source: JELD-WEN Holding, Inc.