Owens Corning (OC): M&A transaction — Owens Corning completes $3.9B acquisition of Masonite; names Chris Ball President of Doors

Owens Corning

Acquired all outstanding Masonite shares for $133.00 per share; implied transaction value ~$3.9B.
Combined annual revenue grows to $12.5B; pro forma adjusted EBITDA of $2.9B on a synergized basis.
Owens Corning expects ~$125M of run-rate cost synergies; ROIC to exceed cost of capital by Year 3.
Financed partly with $2.8B drawn from 364-day credit facility and $300M from A/R facility.
Chris Ball, former President of Masonite Global Residential, appointed President of Doors reporting to CEO.

item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Owens Corning incurred term loan of $2.8 billion with Morgan Stanley Senior Funding, Inc..

Instrument: term loan
Principal: $2.8 billion
Counterparty: Morgan Stanley Senior Funding, Inc.
Event: incurrence

Exact text from the filing

On May 15, 2024, Owens Corning (i) borrowed $2.8 billion under the 364-Day Credit Facility

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Owens Corning completed an acquisition involving Masonite International Corporation for $133.00 per share (closed 2024-05-15).

Action: acquisition
Counterparty: Masonite International Corporation
Consideration: $133.00 per share
Closing: 2024-05-15

Exact text from the filing

Agreement, at the effective time of the Arrangement (the “Effective Time”), Purchaser acquired all of the issued and outstanding common shares of Masonite at a purchase price of $133.00 per share (the “Arrangement”). The Arrangement was implemented by way of a plan of arrangement pursuant to the Business Corporations Act (British Columbia). Upon completion of the

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7 debt financings filed in the last 30 days. Browse all debt financings →

Owens Corning filing history →

Source: SEC EDGAR

accession 0001193125-24-139454

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