Jeld-Wen offers up to $810.2 million in secured debt through exchange and new-money issuance
JELD•Jeld-Wen launched an exchange and new-money offering of up to $810.2 million in first-lien senior secured notes due 2031. The offer targets $400 million of notes due 2027 and includes up to $410.2 million of new notes.
1. Debt offering terms
The transaction targets $400 million of Jeld-Wen’s outstanding 4.875% Senior Notes due 2027, with up to $410.2 million of new-money notes. The new notes pay either 10.5% cash interest or 11.5% interest, including up to 2.5% payable through increased principal. Holders of about 94.5% of the outstanding notes committed to tender, and holders of about 70% committed to backstop the new-money offering. Early tenders are due November 10, 2026, at 5 p.m. New York time; the offer expires November 27 at the same time.
