LCI Industries (LCII) said Tuesday that it intends to offer $400 million of convertible senior notes due 2030 in a private placement.
The company said it expects to give the initial purchasers a 13-day option to buy up to $60 million more of notes.
LCI said it plans to use the net proceeds to repurchase up to $50 million of its shares and for general corporate purposes, among others.
The company also said it is launching a proposed $400 million senior secured term loan B due 2032, which it expects to be documented in a new credit facility that will include a $600 million revolving credit facility due 2030.
The proceeds of the new term loan, as well as any revolving loans to be drawn under the proposed credit facility are expected to be used to prepay all outstanding debt under a 2018 credit agreement, among others, the company said.
LCI shares were down 2.5% in recent premarket activity Tuesday.
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