Doman Group Announces Redemption of Senior Unsecured Notes
Vancouver, British Columbia – Doman Building Materials Group Ltd. (“Doman” or the “Company”) (TSX: DBM) has proudly announced the successful completion of the early redemption of its outstanding 5.25% senior unsecured subordinated notes. This marks a significant milestone for the company, demonstrating its commitment to maintaining a robust financial position.
Details of the Early Redemption
The total aggregate principal amount for the redeemed notes was $272,163,000. These 2026 Notes were redeemed at a price of $1,004.60 for every $1,000 principal amount redeemed. This figure reflects the full principal amount plus any accrued and unpaid interest up to the redemption date, solidifying a critical move in the company's ongoing financial strategy.
CEO's Statement on Financial Strategy
Amar Doman, the Chairman and CEO of Doman, stated, "Our approach to fiscal responsibility and growth strategy is pivotal for our future. Successfully retiring our senior unsecured 2026 Notes not only enhances our debt structure but showcases our commitment to prudent financial management. As we look ahead, we aim to continue our path of strategic financial planning and prudent management of resources."
About Doman Building Materials Group Ltd.
Doman Building Materials Group Ltd., founded in 1989, is a leading distributor in the building materials sector in Canada. Headquartered in Vancouver, British Columbia, the company operates under the ticker symbol DBM on the Toronto Stock Exchange. Doman proudly stands as the top national distributor, serving a broad market through several facilities and treating plants across Canada and the United States.
Operations Across North America
Doman has strategically established distribution centers coast-to-coast throughout Canada. Additionally, their U.S. operations include a comprehensive network based in Dallas, Texas, with 21 treating plants, multiple specialty mills, and an extensive fleet for efficient distribution. This structure allows Doman to meet the diverse needs of their customers across various states, providing top-quality lumber and construction materials to different regions.
Looking Forward
With a robust plan in place and continual developments in their operational strategies, Doman is set to enhance its market position moving forward. The early redemption of the senior unsecured notes serves not only as a testament to their financial health but also as an affirmation of the company's future growth potential. They remain committed to their strategic goals while ensuring that financial prudence remains at the forefront of their operations.
Contact Information for Inquiries
For further queries or insights into Doman, interested parties may reach out to:
Ali Mahdavi
Investor Relations
416-962-3300
ali.mahdavi@domanbm.com
Frequently Asked Questions
What was the total amount of the redeemed 2026 Notes?
The total amount of the redeemed 2026 Notes was $272,163,000.
What interest rate did the 2026 Notes carry?
The 2026 Notes carried an interest rate of 5.25%.
Who is the current CEO of Doman?
Amar Doman is the Chairman and CEO of Doman Building Materials Group Ltd.
Where is Doman Building Materials Group headquartered?
Doman is headquartered in Vancouver, British Columbia, Canada.
How does Doman operate in the U.S. market?
Doman operates a comprehensive network including treating plants, specialty mills, and distribution centers in multiple states across the U.S.
