Convertibles Calendar: Patrick Industries on tap

Dec. 7

PATRICK INDUSTRIES INC.:

• $225 million seven-year convertible notes

• Greenshoe of $33.75 million

• Coupon of 1.75% to 2.25% and initial conversion premium of 27.5% to 32.5%

• BofA Securities, Truist Securities and Wells Fargo

• Non-callable until Dec. 5, 2025 and then subject to a 130% hurdle

• Rule 144A and Regulation S

• Proceeds to repay current credit facility and fund convertible note hedge and warrant transactions

• Elkhart, Ind.-based maker and distributor of component products

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