Loan & DebtJun 25, 2026, 04:57 PM
Core & Main Prices $750M Senior Notes Due 2034 at 6.000%
AI Summary
Core & Main, Inc. announced the launch and subsequent pricing of an offering by its indirect wholly-owned subsidiary, Core & Main LP, for $750 million in Senior Notes due 2034. The notes were priced at 6.000%. The company intends to use the net proceeds to prepay a portion of its existing senior term loan due July 27, 2028, and for general corporate purposes, including investments in organic growth, operational initiatives, mergers and acquisitions, and share repurchases. The offering is expected to close around July 1, 2026.
Key Highlights
- Core & Main LP announced the launch of an offering for $750 million in Senior Notes.
- The Senior Notes are due in 2034 and carry an interest rate of 6.000%.
- Net proceeds will be used to prepay a portion of an existing senior term loan due July 27, 2028.
- Funds will also be allocated for general corporate purposes, including organic growth and M&A.
- The Notes will be guaranteed by Core & Main Midco, LLC and Core & Main Intermediate GP, LLC.
- The closing of the offering is expected to occur on or about July 1, 2026.
Price Impact
More from CNM