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Trex Company, Inc. Announces Underwriters' Exercise of Overallotment Option for $12.5 Million of Convertible Senior Subordinated Notes due 2012
The notes bear interest at an annual rate of 6.00% from June 18, 2007, payable semi-annually on January 1 and July 1, commencing on January 1, 2008. The notes were offered by Trex Company pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
Trex Company expects to use the net proceeds from the exercise of the over-allotment option to repay existing debt or, to the extent not applied to repay indebtedness, for working capital and other general corporate purposes.
J.P. Morgan Securities Inc. acted as book-running manager for the offering and as representative of the underwriters, and BB&T Capital Markets, a division of Scott & Stringfellow, Inc., acted as co-manager for the offering.
This news release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any offer or sale of these securities in any state in which such offer, solicitation or sale would be unlawful.
About Trex Company
Headquartered in Winchester, Va., Trex Company, Inc. is the nation's largest manufacturer of composite decking, railing and fencing products, which are marketed under the brand name Trex(R).
SOURCE: Trex Company, Inc.
Trex Company, Inc.
Paul Fletcher, Chief Financial Officer, 540-542-6300