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James Hardie Industries plc Announces Successful Closing of Offering of Senior Secured Notes
SYDNEY, June 17, 2025--James Hardie Industries plc (ASX: JHX) ("James Hardie" or the "Company") announced today the successful closing of its previously announced 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"). T
About this update from James Hardie Industries Plc.
[{"type":"text","content":"SYDNEY, June 17, 2025--(BUSINESS WIRE)--James Hardie Industries plc (ASX: JHX) ("James Hardie" or the "Company") announced today the successful closing of its previously announced 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 bear interest at a rate of 5.875% per annum and the 2032 Notes bear interest at a rate of 6.125% per annum.","length":698,"tagName":"p"},{"type":"text","content":"James Hardie currently 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. The proceeds of the Notes were placed into escrow pending consummation of the proposed AZEK merger. If the merger is not consummated, the Issuer will be required to repay the aggregate principal amount of the Notes in full, together with accrued and unpaid interest, if any, to, but excluding, the redemption date.","length":681,"tagName":"p"},{"type":"text","content":"The offering was multiple times oversubscribed, and the Notes were rated investment grade by more than one rating agency.","length":121,"tagName":"p"},{"type":"text","content":""We are pleased with the strong show of interest that this offering received from a broad range of investors and appreciate their support. The investment grade rating and significant oversubscription on the Notes underscores the confidence in our value proposition and conviction in our future," said Rachel Wilson, James Hardie’s Chief Financial Officer.","length":365,"tagName":"p"},{"type":"text","content":"Discussing the Company’s broader post-offering debt portfolio, Ms. Wilson stated that "between the syndication of our credit facility and the closing of this notes offering, we have established permanent financing in anticipation of the acquisition closing. With a current ble...