Owens Corning intends to price offering of notes via four bookrunners

By Devika Patel

Knoxville, Tenn., June 21 – Owens Corning will conduct a sale of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

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

Of the proceeds, $250 million will be used to fund a portion of the purchase price of the company’s planned acquisition of Pittsburgh Corning and the remainder will be used to repurchase all of the company’s 9% senior notes due 2019, to repurchase a portion of its 7% senior notes due 2036 and for general corporate purposes.

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

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