J.B. Poindexter & Co. Inc. unveils pricing details for a $250 million issue of senior unsecured notes
J.B. Poindexter & Co., Inc., a privately-held company specialising in the design, manufacture, and marketing of various products such as commercial truck bodies, ambulances, buses, service/utility truck and van bodies, and more, has announced a private offering of $250 million senior unsecured notes due 2031. The offering is expected to close on August 4, 2025, subject to customary closing conditions.
The notes, priced at 100.500% of the principal amount plus accrued interest, will bear interest at 8.750% per annum. The initial purchasers of the stock package have not been publicly disclosed.
The company's intentions regarding the timing and completion of the offering, as well as its plans for the use of proceeds, are included in the forward-looking statements. These statements involve risks and uncertainties, including the Company's ability to consummate the offering. Other risks are set forth in the offering documentation.
The notes will be guaranteed by certain subsidiaries of the company. However, the New 2031 Notes have not been registered under the Securities Act or any state securities laws. They are being offered only to qualified institutional buyers and non-U.S. persons.
Market conditions relating to the issuance of debt securities are among the risks. The company assumes no obligation to update any forward-looking statements or information. Other matters are included in the forward-looking statements.
The notes will be used to pay related fees and expenses, repay its $175 million bridge credit facility, and repay its asset-based lending facility. The forward-looking statements also include the intended use of proceeds.
For further information, please contact Matt Eul, Director of Marketing for J.B. Poindexter & Co, Inc., at [email protected] or 641-629-0921.
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