Patrick Industries closes $500M 6.375% Senior Notes offering and $1.0B credit facility; refinances higher-rate debt

PATRICK INDUSTRIES INC

Issued $500M of 6.375% Senior Notes due Nov 2032 at par; net proceeds used to redeem $300M of 7.500% Notes due 2027.
Entered new $1.0B credit facility ($875M revolver + $125M term loan) maturing Oct 2029, replacing prior facility due Aug 2027.
New credit facility reduces interest cost vs. 7.5% notes and extends debt maturity profile.
Supplemental indentures added certain domestic subsidiaries as guarantors under existing notes.

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