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Owens Corning to redeem 6.5% notes due 2016 via make-whole call
New York, Aug. 3 – Owens Corning will redeem its $158 million of 6.5% notes due Dec. 1, 2016 using the make-whole call feature, according to a 424B5 filing with the Securities and Exchange Commission.
Funding for the redemption will come from an offering of new senior notes via bookrunners BofA Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities LLC that was announced on Wednesday morning.
Proceeds from the new notes will also be used for general corporate purposes and to repay other debt, including borrowings under the company’s receivables securitization facility.
Owens Corning is a Toledo, Ohio-based maker of composites and building materials, including glass fiber, insulation and roofing.
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