American Woodmark to sell $350 million eight-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Jan. 29 – American Woodmark Corp. expects to price a $350 million offering of eight-year senior notes (expected ratings Ba3/BB) on Wednesday, according to a syndicate source.

Wells Fargo Securities LLC is the active bookrunner. BMO Securities, Citizens Bank, SunTrust Robinson Humphrey Inc., BBVA Securities Inc., Capital One, Fifth Third Bank, MUFG, Regions and U.S. Bancorp Investments Inc. are the co-managers.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon.

The Winchester, Va.-based manufacturer of interior furnishings plans to use the proceeds to partially refinance RSI Home Products Inc.’s existing 6½% senior secured second-lien notes due 2023 in connection with late 2017 merger of American Woodmark and RSI.

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