Griffon (GFF) said Monday it plans to launch a private placement of $800 million in senior notes maturing in 2034.
Proceeds from the offering, combined with available cash and credit line draws, will be used to redeem all outstanding 5.75% senior notes maturing in 2028, the company said.
The funds will also cover related transaction fees and costs, Griffon said.
Shares of the company were down over 3% in Monday trading.
Price: 104.15, Change: -3.07, Percent Change: -2.86
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.