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American Woodmark restates $750 million of credit facilities due 2026
By Wendy Van Sickle
Columbus, Ohio, April 22 – American Woodmark Corp. entered into an amended and restated senior secured credit facility consisting of a $500 million revolving loan facility and a $250 million term loan, according to a news release.
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 revolver.
The company used the proceeds from these borrowings, along with available cash on hand, to repay in full the indebtedness outstanding under its previous senior secured credit facility, fund the aggregate redemption price for the previously announced conditional full redemption of its 4 7/8% senior notes due 2026 scheduled to occur on April 26 and pay related fees and expenses.
The manufacturer of interior furnishings is based in Winchester, Va.
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