Patrick Completes $350 Million Senior Notes Offering

Consumer
Industrial

Patrick senior notes offering


Summary

Patrick Industries, Inc. ("Patrick" or the "Company") (NASDAQ: PATK) recently completed a private offering of $350 million aggregate principal amount of its 4.75% senior notes due 2029 (the “Notes”), at an issue price of 100% of the principal amount of the Notes, in a private placement. Net proceeds from the offering, together with borrowings under the new credit facility that Patrick entered into following the issuance of the Notes, were used to repay debt and for general corporate purposes.

Baird served as a co-manager on this offering.

About

Patrick is a major manufacturer and distributor of component products and building products and materials serving original equipment manufacturers. Patrick categorizes its operations under two broad market groupings - Leisure & Lifestyle and Housing & Industrial – and through those the Company services four primary end markets: recreational vehicle, marine, manufactured housing and the adjacent industrial markets. Additionally, Patrick has a growing presence in aftermarket channels within the end markets it serves. The Company was founded in 1959 and is headquartered in Elkhart, Indiana.
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Consumer
Industrial

Patrick senior notes offering

Date
April 2021
Company
Patrick Industries, Inc.
Transaction
Equity Capital Markets
Sectors
Consumer
Industrial
Verticals
Outdoor Recreation
Distribution
Vehicle Supply
Target Location
North America

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