2023-07-17 08:07:58 ET
- Roofing materials company Beacon Roofing Supply ( NASDAQ: BECN ) said on Monday that it has commenced a $500M private offering of senior secured notes due 2030.
- The notes will be fully and unconditionally guaranteed by Beacon Sales Acquisition.
- The net proceeds are intended to be used to consummate a repurchase of all 400K outstanding shares of series A cumulative convertible participating preferred stock for $804.5M. The proceeds will also be used to pay all accrued and unpaid dividends on such shares and pay all the related transaction fees and expenses.
- BECN shares were trading -0.63% pre-market.
- Source: Press Release
For further details see:
Beacon Roofing Supply commences $500M private offering of notes due 2030