Winnebago Industries, Inc. Announces Cash Tender Offer for 6.25% Senior Secured Notes Due 2028

Core Viewpoint - Winnebago Industries, Inc. has initiated a cash tender offer to purchase up to $75 million of its 6.250$75 million, exclusive of premiums and accrued interest [1]. - The total outstanding amount of the Notes is $300 million, with a base consideration of$975.00 per $1,000 principal amount and an early tender premium of$30.00, leading to a total consideration of $1,005.00 for early tenders [2]. - Holders must tender their Notes by 5:00 p.m. New York City time on February 14, 2025, to be eligible for the total consideration [4][5]. Group 2: Management Commentary - The CEO emphasized the commitment to long-term shareholder value through disciplined capital allocation and leveraging strong liquidity [4]. - The CFO highlighted the proactive strategy to manage leverage and the ability to fund both organic and inorganic investments while returning cash to shareholders [4]. Group 3: Conditions and Timeline - The tender offer will expire on March 4, 2025, unless extended, and validly tendered Notes can be withdrawn until February 14, 2025 [5][6]. - If the principal amount of tendered Notes exceeds the tender cap, the acceptance will be prorated based on the amount tendered [7][8].