
Griffon Corporation (NYSE:GFF) (&#34;Griffon&#34; or the &#34;Company&#34;) today announced the closing of its previously announced senior notes offering of $800 million aggregate principal amount of 6.25% senior notes

<p xmlns="http://www.w3.org/1999/xhtml">
Griffon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GFF">GFF</a>) ("Griffon" or the "Company") today announced the closing of its previously announced senior notes offering of $800 million aggregate principal amount of 6.25% senior notes due 2034 (the "2034 Notes") in an unregistered offering through a private placement and the amendment and restatement of its existing credit agreement to extend maturity from August 1, 2028 to August 18, 2031 (the "Amended Credit Facility").

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Notes Offering</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The 2034 Notes are senior unsecured obligations of Griffon and are guaranteed by certain of its domestic subsidiaries. The 2034 Notes and related guarantees were offered in a private placement solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or outside the United States to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. The 2034 Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As previously disclosed, Griffon issued a notice of redemption with respect to all of its outstanding 5.75% senior notes due 2028 (the "2028 Notes"). Following completion of the redemption, none of the 2028 Notes will remain outstanding.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release does not constitute an offer to purchase or redeem any of the 2028 Notes.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Amended Credit Facility</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Amended Credit Facility provides for revolver borrowings in an aggregate principal amount of up to $500 million, and contains a $125 million letter of credit sub-facility and a $200 million foreign currency sub-facility (all unchanged from the prior credit facility). The Amended Credit Facility permits the Company, subject to certain conditions, to incur incremental revolving commitments, incremental term loans and certain other incremental equivalent debt in an aggregate amount up to the greater of $500 million and an additional amount determined by reference to a maximum consolidated senior secured leverage ratio of 3.50 to 1.00.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Griffon may elect to pay interest based on either a SOFR or base rate benchmark plus an applicable margin that depends on Griffon’s leverage ratio. Initial pricing is SOFR plus 1.75% or base rate plus 0.75%. The Amended Credit Facility is guaranteed by certain of Griffon’s material domestic subsidiaries and is secured by substantially all the assets of Griffon and each of its subsidiary guarantors. The Amended Credit Facility also contains customary financial and other affirmative covenants, negative covenants and events of default.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">About Griffon Corporation</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Griffon Corporation is a leading provider of residential and commercial building products. The Company is the largest North American manufacturer and marketer of garage doors under the Clopay, IDEAL and Holmes brands, and rolling steel door and grille products under the Clopay, Cornell, and Cookson brands. The Company is also a leading provider of residential, industrial, and commercial ceiling fans sold under the Hunter, Casablanca, and Jan Fan brands.

</p><p xmlns="http://www.w3.org/1999/xhtml">
For more information on Griffon, please see the Company’s website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.griffon.com&amp;esheet=54590769&amp;newsitemid=20260817750103&amp;lan=en-US&amp;anchor=www.griffon.com&amp;index=1&amp;md5=5ddbff3c1062a6da80142fd10a0301c7" shape="rect">www.griffon.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Forward-Looking Statements</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This communication contains forward-looking statements that may state Griffon’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as "intend," "will," "expect," "estimate," "anticipate," "forecast," "plan," "believe" and similar terms. Although Griffon believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally, the anticipated use of proceeds in the 2034 Notes offering, and other factors detailed in filings made by Griffon with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Griffon does not undertake to update any of these statements in light of new information or future events.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260817750103r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260817750103/en/" rel="nofollow">https://www.businesswire.com/news/home/20260817750103/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Company:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Brian G. Harris
<br xmlns="http://www.w3.org/1999/xhtml"></br>EVP &amp; Chief Financial Officer
<br xmlns="http://www.w3.org/1999/xhtml"></br>Griffon Corporation
<br xmlns="http://www.w3.org/1999/xhtml"></br>(212) 957-5000

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investor Relations:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tom Cook
<br xmlns="http://www.w3.org/1999/xhtml"></br>Managing Director
<br xmlns="http://www.w3.org/1999/xhtml"></br>ICR Inc.
<br xmlns="http://www.w3.org/1999/xhtml"></br>(203) 682-8250

</p>

Griffon Corporation Announces Closing of Senior Notes Offering and Amended Credit Facility

Griffon Raises $800M in 2034 Notes, Extends Credit Maturity to 2031

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Griffon Corporation (NYSE:GFF) (&amp;#34;Griffon&amp;#34; or the &amp;#34;Company&amp;#34;) today announced the closing of its previously announced senior notes offering of $800 million aggregate principal amount of 6.25% senior notes</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Griffon Corporation closed an $800 million private placement of 6.25% senior notes due 2034 and amended its credit facility to extend the maturity to August 18, 2031. The company redeemed all 2028 notes, eliminating near-term maturities, and added liquidity through a $500 million revolver plus $125 million LC and $200 million FX facilities. The moves strengthen Griffon&#039;s capital structure and reduce near-term refinancing risk.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Griffon closes $800M private placement of 6.25% notes due 2034; unregistered.</li><li>Amended Credit Facility extends maturity to Aug 18, 2031; revolver up to $500M, LCs $125M, FX $200M.</li><li>Redeems all 2028 notes; none outstanding.</li><li>Initial pricing SOFR+1.75% or base rate+0.75%; secured by assets; covenants.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Griffon Corporation (GFF)</strong>: Issuer of the 2034 notes; extension improves liquidity and long-term maturity profile.</li><li><strong>Griffon Corporation (GFF)</strong>: Redeemed 5.75% notes due 2028; reduces near-term debt and coupon burden.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This financing move reshapes Griffon&#039;s capital structure and liquidity, with potential implications for credit metrics and leverage trajectory.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Maturity extension to 2031 reduces near-term refinancing risk.</li><li>New facilities add liquidity and flexibility for capex or acquisitions.</li><li>Redemption of 2028 notes lowers near-term coupon burden.</li><li>Private placement to QIBs suggests disciplined funding access and favorable terms.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>$800 million aggregate principal of 6.25% senior notes due 2034 issued in private placement.</li><li>Notes offered to QIBs under Rule 144A and outside the U.S. under Regulation S.</li><li>Amended Credit Facility: revolver up to $500 million; LC sub-facility $125 million; FX sub-facility $200 million.</li><li>Maturity extended from August 1, 2028 to August 18, 2031; leverage cap of 3.50x.</li><li>Interest: SOFR plus 1.75% or base rate plus 0.75%; secured by substantially all assets.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over the next 6–12 months on longer debt runway and improved liquidity.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Griffon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GFF">GFF</a>) ("Griffon" or the "Company") today announced the closing of its previously announced senior notes offering of $800 million aggregate principal amount of 6.25% senior notes due 2034 (the "2034 Notes") in an unregistered offering through a private placement and the amendment and restatement of its existing credit agreement to extend maturity from August 1, 2028 to August 18, 2031 (the "Amended Credit Facility").

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Notes Offering</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The 2034 Notes are senior unsecured obligations of Griffon and are guaranteed by certain of its domestic subsidiaries. The 2034 Notes and related guarantees were offered in a private placement solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or outside the United States to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. The 2034 Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As previously disclosed, Griffon issued a notice of redemption with respect to all of its outstanding 5.75% senior notes due 2028 (the "2028 Notes"). Following completion of the redemption, none of the 2028 Notes will remain outstanding.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release does not constitute an offer to purchase or redeem any of the 2028 Notes.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Amended Credit Facility</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Amended Credit Facility provides for revolver borrowings in an aggregate principal amount of up to $500 million, and contains a $125 million letter of credit sub-facility and a $200 million foreign currency sub-facility (all unchanged from the prior credit facility). The Amended Credit Facility permits the Company, subject to certain conditions, to incur incremental revolving commitments, incremental term loans and certain other incremental equivalent debt in an aggregate amount up to the greater of $500 million and an additional amount determined by reference to a maximum consolidated senior secured leverage ratio of 3.50 to 1.00.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Griffon may elect to pay interest based on either a SOFR or base rate benchmark plus an applicable margin that depends on Griffon’s leverage ratio. Initial pricing is SOFR plus 1.75% or base rate plus 0.75%. The Amended Credit Facility is guaranteed by certain of Griffon’s material domestic subsidiaries and is secured by substantially all the assets of Griffon and each of its subsidiary guarantors. The Amended Credit Facility also contains customary financial and other affirmative covenants, negative covenants and events of default.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">About Griffon Corporation</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Griffon Corporation is a leading provider of residential and commercial building products. The Company is the largest North American manufacturer and marketer of garage doors under the Clopay, IDEAL and Holmes brands, and rolling steel door and grille products under the Clopay, Cornell, and Cookson brands. The Company is also a leading provider of residential, industrial, and commercial ceiling fans sold under the Hunter, Casablanca, and Jan Fan brands.

</p><p xmlns="http://www.w3.org/1999/xhtml">
For more information on Griffon, please see the Company’s website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.griffon.com&amp;esheet=54590769&amp;newsitemid=20260817750103&amp;lan=en-US&amp;anchor=www.griffon.com&amp;index=1&amp;md5=5ddbff3c1062a6da80142fd10a0301c7" shape="rect">www.griffon.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Forward-Looking Statements</span></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This communication contains forward-looking statements that may state Griffon’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as "intend," "will," "expect," "estimate," "anticipate," "forecast," "plan," "believe" and similar terms. Although Griffon believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally, the anticipated use of proceeds in the 2034 Notes offering, and other factors detailed in filings made by Griffon with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Griffon does not undertake to update any of these statements in light of new information or future events.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260817750103r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260817750103/en/" rel="nofollow">https://www.businesswire.com/news/home/20260817750103/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Company:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Brian G. Harris
<br xmlns="http://www.w3.org/1999/xhtml"></br>EVP &amp; Chief Financial Officer
<br xmlns="http://www.w3.org/1999/xhtml"></br>Griffon Corporation
<br xmlns="http://www.w3.org/1999/xhtml"></br>(212) 957-5000

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investor Relations:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Tom Cook
<br xmlns="http://www.w3.org/1999/xhtml"></br>Managing Director
<br xmlns="http://www.w3.org/1999/xhtml"></br>ICR Inc.
<br xmlns="http://www.w3.org/1999/xhtml"></br>(203) 682-8250

</p>

Griffon Corporation closed an $800 million private placement of 6.25% senior notes due 2034 and amended its credit facility to extend the maturity to August 18, 2031. The company redeemed all 2028 notes, eliminating near-term maturities, and added liquidity through a $500 million revolver plus $125 million LC and $200 million FX facilities. The moves strengthen Griffon's capital structure and reduce near-term refinancing risk.

News insight

Griffon Corporation Announces Closing of Senior Notes Offering and Amended Credit Facility

AI summary

Sentiment rationale

Key facts

Corporate Developments