JELD-WEN (NYSE:JELD) Holding, Inc. (NYSE: JELD), a global manufacturer and distributor of building products, announced Thursday its intention to offer $350 million of senior unsecured notes due in 2032 in a private placement.
The company plans to use the proceeds to redeem its 4.625% Senior Notes due in 2025 and to partially repay outstanding borrowings under its term loan facility.
The offering is subject to market conditions and will be available to qualified institutional buyers in accordance with Rule 144A under the Securities Act, as well as to certain non-U.S. persons in offshore transactions under Regulation S.
The notes will be guaranteed by JELD-WEN, Inc., the main operating subsidiary, and its domestic subsidiaries that guarantee indebtedness under the term loan facility.
The notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an exemption from registration requirements.
JELD-WEN operates in the design, manufacture, and distribution of interior and exterior doors, windows, and related products, catering to the new construction repair and remodeling sectors.
With facilities across 15 countries in North America and Europe, the company employs approximately 18,000 associates. JELD-WEN's brand portfolio includes names such as JELD-WEN®, LaCantina®, VPI™ in North America, and Swedoor® and DANA® in Europe.
InvestingPro Insights
In light of JELD-WEN Holding, Inc.'s announcement regarding the issuance of senior unsecured notes, a snapshot of the company's financial health and market performance is essential for potential investors. According to InvestingPro data, JELD-WEN has a market capitalization of approximately $1.21 billion, reflecting the market's current valuation of the company. Despite a challenging environment, the company's gross profit margin stands at 19.14%, demonstrating its ability to maintain profitability in its operations.
However, the company has faced a significant decline in revenue over the last twelve months, with a decrease of 10.65%. This contraction is mirrored in the company's EBITDA, which has decreased by 33.98% during the same period. These figures are crucial for investors considering the company's ability to service new debt and manage its financial obligations.
InvestingPro Tips highlight that analysts expect JELD-WEN's net income to grow this year, which could signal a potential turnaround in financial performance. Additionally, the company's liquid assets exceed its short-term obligations, indicating a strong liquidity position that could reassure investors of the company's short-term financial stability. For those interested in further insights, there are 8 additional InvestingPro Tips available, which provide a deeper analysis of JELD-WEN's financial outlook and market position.
With the company's next earnings date on November 5, 2024, investors may want to keep a close eye on JELD-WEN's financial reports to gauge the impact of market conditions on its revenue and earnings. The InvestingPro platform offers an array of additional tips and real-time metrics for JELD-WEN at https://www.investing.com/pro/JELD, which can be a valuable resource for those seeking to make informed investment decisions.
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