secwatch.observer — SEC 8-K summary
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Issuer:     PATRICK INDUSTRIES INC (PATK)
CIK:        0000076605
Form:       8-K
Filed at:   2024-10-28T23:59:59+00:00
Accession:  0000076605-24-000177
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/76605/000007660524000177/0000076605-24-000177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/76605/000007660524000177/patk-20241022.htm
  HTML page:      https://secwatch.observer/filing/0000076605-24-000177

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