LCI Industries announced the pricing of an offering for $400.0 million aggregate principal amount of 3.00% convertible senior notes due 2030. These notes were offered in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
The 3.00% interest rate on the notes due 2030 provides a clear cost of capital for this debt issuance, extending the company's debt maturity profile. The private placement structure targets specific institutional investors, streamlining the offering process for the company.
This strategic financing move is designed to strengthen the company's capital structure and support its ongoing operations and growth initiatives. The convertible nature of these notes offers potential flexibility for the company's balance sheet in the future.
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