J.B. Poindexter & Co., Inc. unveils plans for a potential $200 million offering of senior unsecured notes in private market transactions.
J.B. Poindexter & Co., Inc. Announces Plans for Senior Unsecured Notes Offering
J.B. Poindexter & Co., Inc., a privately-held company specialising in the design, manufacturing, and marketing of various products, has announced its intention to offer $200 million aggregate principal amount of senior unsecured notes due 2031. The press release, issued by Business Wire, states that the offering is subject to market and other conditions.
Based in the United States and Canada, J.B. Poindexter & Co., Inc. operates in a manufacturing-focused business, with four business units holding leading market shares in their respective served markets. The company's product portfolio includes commercial truck bodies, step vans, delivery vehicles, ambulances, buses, service/utility truck and van bodies, commercial vehicle storage and shelving systems, funeral coaches and limousines, and expandable foam packaging products.
The press release contains forward-looking statements, including the intended use of proceeds. The company plans to use the net proceeds from the offering to pay related fees and expenses, repay its $175 million bridge credit facility, and repay its asset-based lending facility. The New 2031 Notes will be guaranteed by certain subsidiaries of the company.
It is important to note that the New 2031 Notes will not be registered under the Securities Act or any state securities laws. They will only be offered to qualified institutional buyers and non-U.S. persons. The forward-looking statements involve risks and uncertainties, including the ability to consummate the offering, market conditions, and other risks.
Matt Eul, the Director of Marketing at J.B. Poindexter & Co., Inc., can be reached at [email protected] or by phone at 641-629-0921. Business Wire can be contacted via email for further information regarding the press release.
The Company assumes no obligation to update any forward-looking statements or information. The guarantors of the New 2031 Notes at J.B. Poindexter & Co., Inc. are the Company's subsidiaries. The forward-looking statements include the Company's intentions regarding the timing and completion of the offering.
