Fortune Brands to repay revolver, term loan debt with note proceeds

By Wendy Van Sickle

Columbus, Ohio, June 8 – Fortune Brands Home & Security, Inc. will use some proceeds from a senior note offering to repay borrowings under its revolving credit facility, according to a filing with the U.S. Securities and Exchange Commission.

After paying off outstanding debts under the $975 million revolver, the company said it plans to use any remaining proceeds from the notes to repay a portion of its $525 million term loan facility. Both facilities mature in July 2018.

Bank of America Merrill Lynch and J.P. Morgan Securities LLC are the joint bookrunning managers in the offering.

The Deerfield, Ill., company creates products and services for homeowners, including entry door systems, windows, faucets and locks.

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