MasterBrand issues $700M 7.00% Senior Notes due 2032, enters $750M revolver

MasterBrand, Inc.

Issued $700M aggregate principal of 7.00% Senior Notes due 2032 at par; net proceeds ~$689.5M.
Proceeds used to fund Supreme Cabinetry Brands acquisition, repay existing term loan, and pay fees.
Also closed $750M 5-year revolving credit facility with JPMorgan as admin agent; variable rate based on SOFR.
Notes mature July 15, 2032; interest semi-annual; redeemable at par plus premium before July 2027.
Credit agreement includes net leverage ratio covenant (max 3.50:1 through Dec 2024, then 3.25:1).

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