Masonite to price $300 million eight-year notes in Monday drive-by; initial talk high 5%-6% area

By Paul A. Harris

Portland, Ore., Aug. 13 – Masonite International Corp. plans to price a $300 million offering of eight-year senior notes in a quick-to-market Monday trade following a late-morning conference call with investors, according to market sources.

Initial price talk has the deal coming to yield in the high 5% to 6% area.

BofA Merrill Lynch and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A for life notes come with three years of call protection.

The Tampa-based provider of building supplies and services plans to use the proceeds to redeem $125 million of its 5 5/8% senior notes due 2023 and for general corporate purposes, which may include future acquisitions, common share repurchases and working capital.

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