Wells, Others Arrange Masonite ABL
Masonite amended a $150 million asset-based revolving credit facility, secured by the company’s inventory and A/R in the U.S. and Canada.
Wells Fargo Capital Finance, LLC, Bank of America, N.A., Royal Bank of Canada, Deutsche Bank Securities Inc. and Barclays Bank PLC acted as Joint Lead Arrangers and Book Managers.
The company increased the size of the committed facility to $150 million from $125 million, and extended the maturity date of the revolving ABL facility to April 9, 2020 from its prior maturity date of May 17, 2016. As of April 9, 2015, there were no amounts outstanding under the ABL facility.
Masonite International is a global designer and manufacturer of interior and exterior doors for the residential new construction.