American Woodmark to redeem $115 million of RSI Home’s 6½% notes

New York, Jan. 25 – American Woodmark Corp. said that its RSI Home Products, Inc. subsidiary will redeem $115 million, or 20%, of its $575 million of outstanding 6½% second-lien senior secured notes due 2023.

The redemption price will be 103% of par plus accrued interest up to but excluding the redemption date, according to a press release.

The redemption is subject to conditions including a financing requirement.

If the conditions are met, the redemption date will be Feb. 26.

Should additional time be needed to meet the conditions, the date will be delayed but to no later than March 14.

In December, RSI Home carried out a consent solicitation for the notes, which successfully provided an exception to the change-of-control condition for the acquisition of the company by American Woodmark.

American Woodmark is a Winchester, Va., manufacturer of bath, kitchen and home organization products for the remodeling and new home construction markets.

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