Mikron Industries Financing

Situation

Mikron Industries is the leading North American manufacturer of extruded polyvinyl chloride profiles and engineered composite products used in the fabrication of windows, doors, window coverings and other building products. Mikron was interested in investigating the opportunity to transition its financing arrangements from total dependence on the secured bank credit market to a combination of long-term unsecured institutional financing and an unsecured revolving credit facility with a bank.

ZS Role

Zachary Scott served as Mikron’s agent to market and arrange a ten-year, unsecured, fixed rate financing with the flexibility to issue additional notes in the future if appropriate. Zachary Scott was responsible for negotiating the Note Purchase Agreement with an institutional term lender and revised credit arrangements with Mikron’s bank.

Results

Zachary Scott succeeded in arranging a stable and flexible capital structure to support Mikron’s long-term growth. Secondarily, the financing took advantage of favorable pricing conditions that were available within the institutional private placement market at the time.

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