Masonite’s $300 Million Senior Notes Offering


Simpson Thacher recently represented Masonite International Corporation (“Masonite”) in connection with its offering of $300 million aggregate principal amount of 5.75% Senior Notes due 2026 in a transaction exempt from registration under Rule 144A and Regulation S.

Masonite intends to use the net proceeds from the sale of the notes to redeem $125 million aggregate principal amount of its existing 5.625% Senior Notes due 2023, and to pay related premiums, fees and expenses, and the remaining balance for general corporate purposes, which may include funding future acquisitions, the repurchase of its common shares pursuant to its share repurchase programs and working capital needs. The offering closed on August 27, 2018.

Masonite is a leading global designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling; and the nonresidential building construction markets. Masonite serves more than 7,000 customers in 65 countries.

The Simpson Thacher team included Joseph Kaufman (Picture), Tony Rim and Richard Ragusa (Capital Markets); Larry Moss and Joo Hyun Lee (Executive Compensation and Employee Benefits); and Jonathan Cantor and Sarah Julian Duffy (Tax). Summer Associate Scott Grundei also provided valuable assistance.

Involved fees earner: Joseph Kaufman – Simpson Thacher & Bartlett; Tony Rim – Simpson Thacher & Bartlett; Richard Ragusa – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Joo Hyun Lee – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Sarah Julian Duffy – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Masonite International Corporation;

Author: Ambrogio Visconti