JELD-WEN Extends Debt Maturities and Secures New Financing
JELD-WEN Holding, Inc. has reached an agreement with lenders and noteholders to extend debt maturities and raise $135 million in new financing to support its business plan.
Building products manufacturer JELD-WEN Holding, Inc. announced it has entered into an agreement with a significant group of its lenders and noteholders. The arrangement aims to extend the maturity dates of the company's 2027 and 2028 debt obligations to 2031. Additionally, JELD-WEN will raise $135 million in new debt financing.
The financing package, intended to support the company's business plan and operations, covers approximately 94.5% of the 2027 notes and about 72.2% of the 2028 term loans. JELD-WEN plans to initiate exchange offers for holders of these debts in the coming weeks.
Company CEO William J. Christensen stated that addressing near-term maturities and strengthening the balance sheet have been key priorities. "This agreement is an important step forward," Christensen said. "It provides us with greater financial flexibility as we continue to execute our plan."
Based in Charlotte, North Carolina, JELD-WEN is a global designer, manufacturer, and distributor of interior and exterior doors, windows, and related building products for both new construction and the repair and remodeling sectors.