Oregon's Jeld-Wen plans smaller bond sale, still planning for Onex takeover, sources say

Date: 29 September 2011
Source: http://www.oregonlive.com
Jeld-Wen Inc., the debt-ridden Oregon window- and door-maker preparing for a takeover, plans to downsize a junk-bond sale and offer higher interest payments to investors, market sources say.

The Klamath Falls-based business, Oregon’s largest privately owned company, intends to offer $450 million in bonds instead of the $575 million originally planned, the sources say. Notes will be due in 2017 instead of 2018.

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The Oregonian’s continuing coverage of the developments at Jeld-Wen and its plan to sell a majority stake to Onex Corp. Traders are discussing interest rates in the 12 percent to 13 percent range. The rates represent a significant jump from the original 9.5 percent to 9.75 percent levels reported by New York financial tracker Debtwire.

Read the full story: www.oregonlive.com/business/index.ssf/2011/09/oregons_jeld-wen_plans_smaller.html

 

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