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James Hardie Industries plc Announces Pricing of Offering of Senior Secured Notes
SYDNEY, June 03, 2025--James Hardie Industries plc (ASX: JHX) ("James Hardie" or the "Company") announced today the pricing of a private offering of $700,000,000 aggregate principal amount of senior secured notes due 2031 (the "2031 Notes") and $1,000,000,000 aggregate principal amount of senior secured notes due 2032 (the "2032 Notes," and together with the 2031 Notes, the "Notes") of its wholly-owned subsidiary, JH North America Holdings Inc. (the "Issuer"). The 2031 Notes will bear interest a
About this update from James Hardie Industries Plc.
[{"type":"text","content":"SYDNEY, June 03, 2025--(BUSINESS WIRE)--James Hardie Industries plc (ASX: JHX) ("James Hardie" or the "Company") announced today the pricing of a private offering of $700,000,000 aggregate principal amount of senior secured notes due 2031 (the "2031 Notes") and $1,000,000,000 aggregate principal amount of senior secured notes due 2032 (the "2032 Notes," and together with the 2031 Notes, the "Notes") of its wholly-owned subsidiary, JH North America Holdings Inc. (the "Issuer"). The 2031 Notes will bear interest at a rate of 5.875% per annum and the 2032 Notes will bear interest at a rate of 6.125% per annum.","length":674,"tagName":"p"},{"type":"text","content":"Subject to certain exceptions and thresholds, the Notes will be guaranteed on a senior secured basis by each wholly owned restricted subsidiary of James Hardie that guarantees its existing senior secured credit facilities, and will be secured by substantially the same collateral as James Hardie’s existing first lien obligations under its existing senior secured credit facilities.","length":382,"tagName":"p"},{"type":"text","content":"James Hardie intends to use the net proceeds from the offering, together with borrowings under its credit facilities and cash on hand, to finance the aggregate cash consideration in the proposed acquisition of the AZEK Company Inc. ("AZEK"), to repay and terminate AZEK’s existing credit facility and to pay related transaction fees and expenses. At the closing of the Notes offering, the proceeds of the Notes are expected to be placed into escrow pending the consummation of the proposed AZEK merger. If the merger is not consummated, the Issuer will be required to repay the Notes at a redemption price equal to 100% of the initial issue price of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.","length":752,"tagName":"p"},{"type":"text","content":"The Notes and the related guarantees have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirement...