American Woodmark Corporation (NASDAQ: AMWD) (the “Company”) today announced that it has entered into an amended and restated senior secured credit facility consisting of a $500 million revolving loan facility and a $250 million term loan facility. Both facilities mature on April 22, 2026. At closing, the Company borrowed the entire $250 million available under the term loan facility and approximately $264 million under the revolving loan facility. The Company used the proceeds from these borrowings, along with available cash on hand, to repay in full the indebtedness outstanding under the Company’s previous senior secured credit facility, fund the aggregate redemption price for the previously announced conditional full redemption of the Company’s 4.875% Senior Notes due 2026 scheduled to occur on April 26, 2021 (the “Redemption”) and pay related fees and expenses.
American Woodmark Corporation Announces Closing of Amended and Restated Credit Facility and Satisfaction of Conditions Precedent to Full Redemption of 4.875% Senior Notes Due 2026
Apr 22, 2021
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