Deal Details
Patrick Completes $350 Million Senior Notes Offering
Summary
Patrick Industries, Inc. ("Patrick" or the "Company") (NASDAQ: PATK) recently completed a private offering of $350 million aggregate principal amount of its 4.75% senior notes due 2029 (the “Notes”), at an issue price of 100% of the principal amount of the Notes, in a private placement. Net proceeds from the offering, together with borrowings under the new credit facility that Patrick entered into following the issuance of the Notes, were used to repay debt and for general corporate purposes.
Baird served as a co-manager on this offering.
About
Patrick is a major manufacturer and distributor of component products and building products and materials serving original equipment manufacturers. Patrick categorizes its operations under two broad market groupings - Leisure & Lifestyle and Housing & Industrial – and through those the Company services four primary end markets: recreational vehicle, marine, manufactured housing and the adjacent industrial markets. Additionally, Patrick has a growing presence in aftermarket channels within the end markets it serves. The Company was founded in 1959 and is headquartered in Elkhart, Indiana.CONTACT US TO LEARN MORE
- Date
- April 2021
- Company
- Patrick Industries, Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Consumer
Industrial - Verticals
-
Outdoor Recreation & Sporting Goods
Vehicle Technology & Mobility
- Target Geography
- North America
Share
