American Woodmark Corporation (NASDAQ: AMWD) today announced the pricing of its previously announced private offering of $350 million aggregate principal amount of senior unsecured notes due 2026. The Notes will mature on March 15, 2026, and will bear an interest rate of 4.875%. The offering is expected to close on February 12, 2018, subject to certain closing conditions.

As previously announced, on January 25, 2018, RSI Home Products, Inc. ("RSI"), a wholly owned subsidiary of American Woodmark, gave notice that it had elected to conditionally redeem 20% (the "Conditional Redemption"), or $115 million in principal amount, of the $575 million outstanding principal amount of its 6½% senior secured second lien notes due 2023 (the "RSI Notes"). Also, as previously announced, on January 29, 2018, RSI commenced an offer to purchase for cash the RSI Notes not subject to the Conditional Redemption pursuant to a tender offer and consent solicitation (the "Tender Offer").

American Woodmark intends to use the net proceeds from the sale of the Notes, together with the proceeds from borrowings under its senior secured delayed draw term loan facility and cash on hand, to (i) pay the redemption price for the Conditional Redemption, (ii) finance the Tender Offer and the redemption of any RSI Notes not purchased in the Tender Offer, along with related fees and expenses, and (iii) repay amounts outstanding under American Woodmark's senior secured revolving credit facility.

About American Woodmark Corporation:

American Woodmark Corporation manufactures and distributes bath, kitchen and home organization products for the remodeling and new home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors. The Company presently operates 18 manufacturing facilities and 7 service centers across the country. For more information, visit www.americanwoodmark.com.