J.B. Poindexter & Co., Inc., a leading private firm specializing in commercial truck bodies, delivery vehicles, and industrial products, has revealed plans for a $550 million senior unsecured notes offering due in 2031. The offering’s success depends on market conditions.
The proceeds from the offering will be allocated to various purposes, including the repurchase of the company’s 7.125% Senior Unsecured Notes due 2026 through a concurrent cash tender offer. Additionally, funds will cover related fees, expenses, and potential redemption of outstanding 2026 Notes.
The 2031 Notes, guaranteed by specific company subsidiaries, will be offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Notably, these notes have not been registered under the Securities Act and are subject to certain exemptions.
Upon completion of the Tender Offer, the company aims to satisfy and discharge the indenture governing the 2026 Notes, freeing itself from related covenants. This strategic move is poised to optimize the company’s financial position.
Please note that this press release is not an offer to sell or a solicitation to buy the 2031 Notes. The securities may not be offered or sold in the United States without compliance with applicable regulations. Similarly, this release does not constitute an offer to purchase or a solicitation to sell the 2026 Notes, nor does it serve as a notice of redemption for the 2026 Notes.
ABOUT J.B. Poindexter & Co., Inc.
J.B. Poindexter & Co., Inc. is a privately held company that designs, manufactures, and markets commercial truck bodies, step vans and delivery vehicles, service/utility truck and van bodies, commercial vehicle storage and shelving systems, pick-up truck caps and tonneau covers, funeral coaches and limousines, specialty industrial parts and expandable foam packaging products. Since its formation in the mid-1980s, J.B. Poindexter & Co., Inc. has grown to be a leading manufacturing-focused business. J.B. Poindexter & Co., Inc. operates under a semi-decentralized business model, with eight independent business units.