secwatch.observer — SEC 8-K summary
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Issuer:     MasterBrand, Inc. (MBC)
CIK:        0001941365
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0001140361-24-031587
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1941365/000114036124031587/0001140361-24-031587-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1941365/000114036124031587/ef20031782_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-031587

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