WINCHESTER, Va., Jan. 25, 2018 /PRNewswire/ -- American Woodmark
Corporation (NASDAQ: AMWD) ("American Woodmark") today announced
that its wholly-owned subsidiary, RSI Home Products, Inc. ("RSI"),
has elected to conditionally redeem 20%, or $115 million in principal amount, of the
$575 million outstanding principal
amount of its 6½% Senior Secured Second Lien Notes due 2023 (CUSIP
Nos. 74977X AB7 and U7501XAB9) (the "RSI Notes") at a redemption
price of 103% of the principal amount of the Notes being redeemed,
plus any accrued and unpaid interest thereon to, but not including,
the redemption date, in accordance with the terms of the RSI Notes
and the indenture governing the RSI Notes.
This partial redemption of the RSI Notes is subject to certain
financing and other related conditions as set forth in the notice
of redemption to the holders of the Notes. Subject to the
satisfaction of these conditions, the date fixed for the partial
redemption of the RSI Notes is February 26,
2018, provided that the redemption date may be extended by
RSI pending satisfaction of the conditions, but not later than
March 14, 2018. There is no assurance
that the conditions to the partial redemption will be satisfied. If
these conditions are not satisfied on or prior to March 14, 2018, the RSI Notes will not be
partially redeemed and will remain outstanding.
Additional information concerning the terms and conditions of
the partial redemption of the RSI Notes are set forth in the notice
of redemption to holders of the RSI Notes.
This press release is for informational purposes only and does
not constitute a notice of redemption of the Notes or an offer to
purchase the Notes or any other securities.
About American Woodmark Corporation:
American Woodmark Corporation manufactures and distributes bath,
kitchen and home organization products for the remodeling and new
home construction markets. Its products are sold on a national
basis directly to home centers, major builders and through a
network of independent distributors. The Company presently operates
18 manufacturing facilities and 7 service centers across the
country. For more information, visit www.americanwoodmark.com.
Forward Looking Statements
This communication contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on the current beliefs and
expectations of the management of American Woodmark and are subject
to significant risks and uncertainties that could cause actual
outcomes and results to differ materially from those expressed
herein. These risks and uncertainties include, but are not limited
to, those described in American Woodmark's filings with the
Securities and Exchange Commission ("SEC"), including in its Annual
Report on Form 10-K for the year ended April
30, 2017, under the heading "Risk Factors" and its most
recent Quarterly Report on Form 10-Q for the period ended
October 31, 2017, under the heading
"Management's Discussion and Analysis of Financial Condition and
Results of Operations - Forward Looking Statements." These reports,
as well as the other documents filed by American Woodmark with the
SEC, are available free of charge at the SEC's website at
www.sec.gov. American Woodmark does not undertake to publicly
update or revise its forward-looking statements, whether as a
result of new information or otherwise.
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SOURCE American Woodmark Corporation