LCI Industries (LCII) said late Tuesday it has priced $400 million worth of 3% convertible senior notes due 2030 in a private placement.

The company granted the initial purchasers a 13-day option to purchase up to $60 million worth of additional notes.

The sale is expected to close on Friday, the company said.

The conversion rate will initially be 8.5745 shares per $1,000 worth of notes, equal to an initial conversion price of about $116.62 per share, the company said.

LCI Industries estimates that the net proceeds from the offering will be around $388.5 million.