Deal Details
Patrick Completes $500 Million Senior Notes Offering
Summary
Patrick Industries, Inc. (“Patrick” or the “Company”) (NASDAQ: PATK) recently completed an upsized private offering of $500 million aggregate principal amount of its of 6.375% senior notes due 2032 in a private placement exempt from registration under the Securities Act of 1933. The Company intends to use the net proceeds from the offering to redeem all of its $300 million aggregate principal amount of 7.500% senior notes due 2027, repay a portion of its borrowings under its existing senior secured credit facility and pay fees and expenses in connection with the offering.
Baird served as a co-manager on this offering.
About
Patrick is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. The Company’s customer-focused approach brings together design, manufacturing, distribution and transportation in a full solutions model that defines Patrick as a trusted partner. The Company is home to more than 85 leading brands, all united by a commitment to quality, customer service and innovation. Patrick is headquartered in Elkhart, Indiana.- Date
- October 2024
- Company
- Patrick Industries, Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Industrial
Consumer - Verticals
-
Vehicle Technology & Mobility
Outdoor Recreation & Sporting Goods
- Target Geography
- North America
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