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Euramax Holdings, Inc. Announces Completion of Its Refinancing Transactions

NORCROSS, Ga., Aug. 07, 2015 (GLOBE NEWSWIRE) -- Euramax Holdings, Inc. (“Holdings”) announced today that it has completed its refinancing transactions, including the closing of its wholly-owned subsidiary Euramax International, Inc.’s (the “Company”) offering of $385,000,000 aggregate principal amount of senior secured notes due 2020 (the “Notes”). The Company also concurrently entered into an amendment to its existing senior unsecured loan facility (the “Senior Unsecured Loan Facility”), which extends the maturity of that facility until February 2021, increases the aggregate principal amount outstanding thereunder to $127.5 million and modifies the interest rate provisions to provide that not more than 2% interest will be paid in cash for at least two years.

The net proceeds from the offering of the Notes were used to redeem and repay in full all of the Company’s outstanding senior secured notes due 2016 and to pay fees and expenses related to the offering and related refinancing transactions.

Hugh Sawyer, interim President of Euramax Holdings, Inc. and a professional in Huron Consulting Group's Business Advisory Practice, commented, “I am pleased that Euramax has successfully extended its debt maturities for the next five years, enabling the Company to maintain focus on its portfolio of initiatives and evolving high-performance culture.”

The Notes being described in this press release were only offered to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the United States to persons other than U.S. persons in reliance upon Regulation S under the Securities Act. The Notes and related guarantees have not been and will not be registered under the Securities Act or any other securities law and, therefore, may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state in which any such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

About Euramax International, Inc.

Formed in 1996, Euramax International, Inc. is a leading producer of metal and vinyl products sold to the residential repair and remodel, commercial construction and recreational vehicle (RV) markets primarily in North America and Europe. Products are represented in the market by multiple brands such as Amerimax Exterior Home Products, Fabral and Euramax Coated Products, distributed via Fortune 100 businesses, and respected and specified by leading firms worldwide. Notable projects include Lady Bird Johnson Middle School in Irving, Texas, the largest net zero school in the United States, and Ferrari World in Yas Island Abu Dhabi, UAE. To learn more, visit Euramax.com

Forward Looking Statements

Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws. When used in this release, the word “expect,” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding our current expectations and beliefs as to our ability to consummate the offering of Notes and the amendment of our Senior Unsecured Loan Facility, and other future events. You should not place undue reliance on these forward-looking statements, which only speak as of the date of this press release. We do not intend, and undertake no duty, to update this information to reflect future events or circumstances. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.


Contact Information Euramax Holdings, Inc. Mary S. Cullin, (770) 449-7066 Senior Vice President, Chief Financial Officer and Treasurer Email: mcullin@euramax.com

Source:Euramax International, Inc.