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Patrick Industries ( (PATK) ) has issued an announcement.
Patrick Industries, Inc. has upsized its private offering to $500 million of 6.375% Senior Notes due 2032, an increase from the initially announced $400 million. These notes, expected to close on or about October 22, 2024, are unregistered and available only to certain institutional buyers. The proceeds aim to redeem existing senior notes, reduce debt, and cover related expenses. The offering coincides with plans to amend and extend the company’s senior secured credit facility to $1.0 billion, enhancing financial flexibility for the company known for pioneering component solutions in various recreational and housing markets.
For detailed information about PATK stock, go to TipRanks’ Stock Analysis page.