Cornerstone Building redeems 8% senior notes due 2026 at 104

By Wendy Van Sickle

Columbus, Ohio, April 15 – Cornerstone Building Brands, Inc. fully redeemed its $645 million of 8% senior notes due 2026, according to a news release.

The notes were redeemed at 104 plus accrued interest.

The redemption was funded using proceeds from refinanced senior credit facilities and available cash. The redemption will decrease the company’s annual interest costs by over $50 million, according to the release.

Cornerstone Building is a Cary, N.C.-based manufacturer of exterior building products for residential and low-rise non-residential buildings.

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