James Hardie redeems $410 million of 4.75% notes due 2025

By Taylor Fox

New York, Jan. 15 – James Hardie Industries plc redeemed its 4.75% senior notes due 2025 with a payment of $410 million in principal and call premium, according to a news release.

As a result of this redemption, the company reduced its long-term gross debt balance to $900 million from $1.3 billion as of Sept. 30, aligned with the company’s plans to reduce gross debt by $400 million by the end of fiscal year 2021.

Following the repayment, the company has liquidity in excess of $600 million, including cash plus availability on its undrawn credit facility.

The redemption was funded using cash on hand.

James Hardie Industries is a Dublin-based building materials company.

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