Weil advised the underwriters in Owens Corning’s $2B notes offering consisting of $500M of 5.500% Senior Notes due 2027, $800M of 5.700% Senior Notes due 2034 and $700M of 5.950% Senior Notes due 2054.  The use of proceeds for the offering was to repay a portion of the outstanding borrowings under the 364-Day Credit Facility used to fund a portion of the purchase price of the acquisition of Masonite International Corporation.

In addition, Weil advised the dealer managers in Owens Corning’s $500M tender offer in connection with the Masonite acquisition, pursuant to which Owens Corning offered to purchase and solicited consents related to Masonite’s 5.375% Senior Notes due 2028. Weil also advised the dealer managers in Owens Corning’s $375M exchange offer and consent solicitation in connection with the Masonite acquisition, pursuant to which Owens Corning offered to exchange Masonite’s 3.50% Senior Notes due 2030 for new Owens Corning 3.50% Senior Notes due 2030 and solicited related consents.

Owens Corning is a global building and construction materials leader and Masonite International Corporation is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors and door solutions.

The Weil deal team was led by Capital Markets partner Michael Hickey and included Capital Markets associates Michael Cremers, Emily Marshall and Leigh Dannhauser, along with Banking & Finance partner Jessie Chiang and associate Nick Swan, Tax partner Graham Magill and associate Madeline Joerg and Regulatory Transactions partners Annemargaret Connolly and Timothy Welch.