JELD-WEN Announces Notice of Redemption of Senior Notes

Rhea-AI Summary

JELD-WEN Holding, Inc. (NYSE: JELD) has announced that its subsidiary, JELD-WEN, Inc., plans to redeem all outstanding 4.625% Senior Notes due 2025. This redemption is subject to the completion of a new notes offering announced on August 8, 2024. The redemption is scheduled for September 13, 2024, with a redemption price of $1,000 for each $1,000 principal amount of Notes, plus accrued and unpaid interest. This move is likely part of JELD-WEN's debt management strategy, potentially aimed at refinancing existing debt with more favorable terms.

Positive

• Potential refinancing of existing debt, which could lead to more favorable terms
• Full redemption of outstanding 4.625% Senior Notes due 2025, indicating financial capacity to manage debt obligations

Negative

• None.

News Market Reaction – JELD

-2.39%

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-2.39% News Effect

On the day this news was published, JELD declined 2.39%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLOTTE, N.C. , Aug. 14, 2024 /PRNewswire/ -- JELD-WEN Holding, Inc. ("JELD-WEN") (NYSE: JELD) announced today that its subsidiary, JELD-WEN, Inc. ("JWI"), elected to redeem, subject to completion of the notes offering announced by JELD-WEN on August 8, 2024, all of its outstanding 4.625% Senior Notes due 2025 (the "Notes"), in accordance with the terms of the Notes and the related indenture. Wilmington Trust, National Association, as trustee under the indenture, mailed a conditional notice of redemption to the record holders of the Notes. Assuming completion of the JELD-WEN notes offering, the redemption of the Notes is scheduled to occur on September 13, 2024 (the "Redemption Date"). The Notes will be redeemed at a redemption price equal to $1,000 for each $1,000 principal amount of Notes redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date.

Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company.

About JELD-WEN

JELD-WEN Holding, Inc. (NYSE: JELD) is a leading global designer, manufacturer and distributor of high-performance interior and exterior doors, windows, and related building products serving the new construction and repair and remodeling sectors. Based in Charlotte, North Carolina, the company operates facilities in 15 countries in North America and Europe and employs approximately 18,000 associates dedicated to bringing beauty and security to the spaces that touch our lives. The JELD-WEN family of brands includes JELD-WEN® worldwide, LaCantina® and VPI™ in North America, and Swedoor® and DANA® in Europe. For more information, visit corporate.JELD-WEN.com or follow LinkedIn. 

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding the offering of the Notes. Forward-looking statements are generally identified by our use of forward-looking terminology such as "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "potential", "predict", "seek", or "should", or the negative thereof or other variations thereon or comparable terminology. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans, expectations, assumptions, estimates, and projections of our management. Although we believe that these statements are based on reasonable expectations, assumptions, estimates and projections, they are only predictions and involve known and unknown risks, many of which are beyond our control, that could cause actual outcomes and results to be materially different from those indicated in such statements.

Our actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors, including, but not limited to, the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2023 or our other filings with the U.S. Securities and Exchange Commission.

The forward-looking statements included in this press release are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this release.

Media Contact:
Melissa Farrington
Vice President, Enterprise Communications
262-350-6021
mfarrington@jeldwen.com 

Investor Relations Contact:
James Armstrong
Vice President, Investor Relations
704-378-5731
jarmstrong@jeldwen.com

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SOURCE JELD-WEN Holding, Inc.

FAQ

When is JELD-WEN (NYSE: JELD) planning to redeem its 4.625% Senior Notes due 2025?

JELD-WEN is planning to redeem its 4.625% Senior Notes due 2025 on September 13, 2024, subject to the completion of a new notes offering announced on August 8, 2024.

What is the redemption price for JELD-WEN's (NYSE: JELD) 4.625% Senior Notes due 2025?

The redemption price is $1,000 for each $1,000 principal amount of Notes, plus accrued and unpaid interest to, but not including, the Redemption Date.

Is JELD-WEN's (NYSE: JELD) redemption of Senior Notes conditional on any factors?

Yes, the redemption is subject to the completion of a new notes offering that JELD-WEN announced on August 8, 2024.

How will the payment for the redemption of JELD-WEN's (NYSE: JELD) Senior Notes be made?

Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company.