Azek Building Products to sell $320 million five-year notes on Friday

By Paul A. Harris

Portland, Ore., May 6 – Azek Building Products, Inc. expects to price $320 million of five-year senior notes (Caa2/CCC+) on Friday, according to a market source.

The deal is being shopped by means of an investor call set to begin at 11 a.m. ET on Thursday. There will also be one-on-one investor calls on Thursday.

Barclays, BofA Securities Inc., Deutsche Bank Securities Inc. and Jefferies LLC are the joint bookrunners.

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

The issuing entity will be CPG International LLC.

The Skokie, Ill.-based building products supplier plans to use the proceeds to redeem its 8% senior notes due 2021 at par.

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