Stile/Masonite to start roadshow Monday for $825 million eight-year notes

By Paul A. Harris

St. Louis, March 11 - Stile Acquisition Corp./Masonite International Corp. will start a roadshow on Monday for its $825 million two-part offering of high-yield notes, according to a syndicate source.

The roadshow is set to conclude on March 23, with pricing to take place shortly thereafter.

The company is offering $300 million of eight-year senior floating-rate notes (B3/B-) that are non-callable or two years and $525 million of 10-year senior subordinated notes (Caa1/B-) that are non-callable for five years.

Deutsche Bank Securities, UBS Investment Bank and Scotia Capital are joint bookrunners.

The company will also obtain a $1.525 billion credit facility.

Proceeds will be used to help fund Kohlberg Kravis Roberts & Co.'s acquisition of Masonite.

Masonite is a Mississauga, Ont.-based building products company.

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