Patrick Industries, Inc. Announces Pricing and Upsize of Private Offering of $500 Million of Senior Notes

Core Viewpoint - Patrick Industries, Inc. has announced an upsized private offering of $500 million in Senior Notes, reflecting a $100 million increase from the previously announced $400 million offering, with expected closing around October 22, 2024 [1] Group 1: Offering Details - The offering consists of 6.375% Senior Notes due 2032, which are exempt from registration under the Securities Act of 1933 [1] - The net proceeds from the offering will be used to redeem $300 million of 7.500% Senior Notes due 2027, repay part of existing borrowings, and cover related fees and expenses [2] Group 2: Credit Facility Amendments - Concurrently with the offering, the company plans to amend its existing $925 million senior secured credit facility to establish a new $1.0 billion facility, which includes an $875 million revolving credit facility and a $125 million term loan [3] - The maturity date for the new credit facility is expected to extend to October 2029, replacing the existing facility due in August 2027 [3]