Masonite to price $300 million bullet due February 2030 on Friday; initial talk high 3% area

By Paul A. Harris

Portland, Ore., July 9 – Masonite International Corp. plans to price a $300 million offering of senior bullet notes due Feb. 15, 2030 (Ba1/BB+) in a Friday drive-by trailing a conference call with investors, according to market sources.

Initial guidance has the deal coming to yield in the high 3% area.

BofA Securities Inc., Wells Fargo Securities LLC, RBC Capital Markets LLC and J.P. Morgan Securities LLC are the joint bookrunners.

HSBC Securities (USA) Inc., PNC Capital Markets LLC, Regions Securities LLC, TD Securities (USA) LLC and Barclays are the co-managers.

The Rule 144A and Regulation S notes, which have a tenor of 8.6 years, are subject to a par call six months prior to maturity but are otherwise non-callable.

The Tampa, Fla.-based door manufacturer plans to use the proceeds plus available cash to redeem all $300 million of its 5¾% senior notes due 2026 that are outstanding.

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