Jeld-Wen may default on more than $500 million in debt


Jeld-Wen says its agreement to be taken over by Onex Corp. is on track, despite doubt from market analysts.

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Jeld-Wen says its agreement to be taken over by Onex Corp. is on track, despite doubt from market analysts.

Red flags went up Friday when Jeld-Wen, a Klamath Falls-based window and door maker, said it had postponed attempts to sell $575 million in bonds crucial to a rescue plan. On Tuesday, The Oregonian obtained a financial analysis that said Jeld-Wen had separately violated  terms of its loans from a bank syndicate, which has given the company until Oct. 17 to fix the problem. 

Debtwire, a financial intelligence company that follows distressed-debt and leveraged-finance markets, produced the report Aug. 3 as Jeld-Wen prepared to market bonds necessary for Canada’s Onex Corp. to rescue the company with an $864 million investment.

Read more at OregonLive.com.

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