Stile/Masonite postpones $825 million bond offering, cites adverse market conditions

By Paul A. Harris

St. Louis, March 23 - Stile Acquisition Corp./Masonite International Corp. postponed its $825 million two-part offering of high-yield bonds on Wednesday due to adverse market conditions, according to an informed source.

Deutsche Bank Securities, UBS Investment Bank and Scotia Capital were the bookrunners.

The Mississauga, Ont.-based building products company is concurrently in the market with an approximately $1.525 billion credit facility, which has initially not been impacted by the postponement of the bond deal, according to the source.

The company came to the capital markets to help fund Kohlberg Kravis Roberts & Co.'s acquisition of Masonite.

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