Patrick Industries prices upsized $500 million senior notes offering due 2032
Patrick Industries agreed on October 7, 2024 to sell $500 million of 6.375% senior notes due 2032 in a private offering, up $100 million from the previously announced $400 million. The company plans to use the proceeds to redeem all $300 million of its 7.500% senior notes due 2027, repay part of its credit facility borrowings, and pay fees, and it expects to replace its existing credit facility with a new $1.0 billion senior secured credit facility with maturity extended to October 2029. The offering is expected to close on or about October 22, 2024, subject to closing conditions, and the filing states there can be no assurance it will be completed.
Key points
- Offering size: $500 million of 6.375% senior notes due 2032, up from $400 million announced earlier
- Planned redemption of all $300 million of 7.500% senior notes due 2027
- Planned new $1.0 billion senior secured credit facility, with $875 million revolving and $125 million term loan, maturing October 2029
- Expected closing on or about October 22, 2024, subject to closing conditions
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 11, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.