$800M Senior Notes Offering to Refinance 2028 Debt
GFF sits 64% above its 52-week low of $65.01.
Summary
Griffon is launching an $800 million senior notes offering due 2034 to redeem its outstanding 5.75% notes due 2028. The refinancing follows the recent closure of the AMES Australasia JV, which brought in $181M cash and helped fully repay the Term Loan B. This move extends maturities and likely reduces interest costs, improving the balance sheet after a series of strategic transactions. The offering is a private placement, with pricing and terms yet to be determined.
At the time of this announcement, GFF was trading at $106.30 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $65.01 to $108.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.