Dorman Prices $450M Senior Notes at 6.25% Interest
DORM sits 28% above its 52-week low of $98.445.
Summary
Dorman Products has priced its previously announced $450 million senior notes offering. The notes will bear an interest rate of 6.25% and are due in 2034, priced at 100% of par value. This follows the earlier announcement today of the private offering. This substantial debt issuance, representing approximately 12% of the company's market capitalization, finalizes the terms of the financing.
At the time of this announcement, DORM was trading at $125.83 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $98.45 to $166.89. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.