10:11 AM EDT, 06/17/2024 (MT Newswires) -- MasterBrand ( MBC ) said Monday it plans to offer a private placement of $700 million in senior notes due 2032.

The residential cabinets manufacturer said it intends to use the net proceeds, alongside new credit facility borrowings and cash reserves, to fund the acquisition of Supreme Cabinetry Brands, refinance existing credit facilities, and cover associated fees and expenses.

MasterBrand ( MBC ) said in May that it expects to complete the $520 million cash purchase of Supreme Cabinetry Brands from GHK Capital Partners in Q3.

Shares of the company were down 1.1% in recent trading.

Price: 15.44, Change: -0.17, Percent Change: -1.09