05:13 PM EDT, 04/15/2024 (MT Newswires) -- Owens Corning ( OC ) started a cash tender offer for all $500 million outstanding 5.375% senior notes due 2028 issued by Masonite International ( DOOR ).

For every $1,000 principal amount, the total consideration for the tender offer is $1,003.75, including a $30 early participation payment, the companies said Monday in a statement.

The offer expires May 13.

On Feb. 9, Owens Corning ( OC ) agreed to buy Masonite for $3.9 billion, or $133 a share.

Along with the tender offer, Masonite is soliciting consents to adopt certain proposed amendments to the indenture governing the notes to eliminate certain of the covenants, restrictive provisions and events of default from such indenture.