Owens Corning preps $400 million offering of 10-year senior notes

By Cristal Cody

Eureka Springs, Ark., Aug. 3 – Owens Corning plans to price a $400 million offering of 10-year senior notes (Ba1/BBB), according to a 424B5 filing with the Securities and Exchange Commission and news releases from Moody’s Investors Service and S&P Global Ratings on Wednesday.

BofA Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including to exercise the make-whole call of its outstanding 2016 notes and to repay outstanding debt.

Owens Corning is a Toledo, Ohio-based maker of composite building materials.

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