Plexus offers $150 million notes; Universal Forest wraps $75 million

By Devika Patel

Knoxville, Tenn., June 18 – The week began with two new private placements announced: Plexus Corp., a Neenah, Wis.-based provider of contract electronic manufacturing services, said it placed $150 million of seven-year and 10-year notes and Universal Forest Products, Inc., a Grand Rapids, Mich., holding company, said it completed a $75 million private placement of senior notes in 10-year and 12-year tranches.

Plexus sells $150 million

Plexus completed a private placement of $150 million of senior notes in two tranches on June 15.

U.S. Bank NA and BofA Merrill Lynch were the agents.

The company sold $100 million of 4.05% seven-year series A notes and $50 million of 4.22% 10-year series B notes.

Proceeds will be used in connection with the repayment of $175 million of the company’s 5.2% senior notes at maturity.

Universal Forest taps market

Universal Forest placed $75 million of senior notes in two tranches on June 14.

There was $40 million of 4.2% 10-year series C notes and $35 million of 4.27% 12-year series D notes sold.

The investors were PGIM, Inc., Prudential Insurance Co. of America, Prudential Life Insurance Co., Ltd., Gibraltar Life Insurance Co., Ltd., Prudential Arizona Reinsurance Captive Co. and Prudential Annuities Life Assurance Corp.

Proceeds will be used to pay down the company’s revolving credit facility.

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