Cabinetworks Group has secured approximately $100 million in new financing through a series of transactions supported by the vast majority of its creditors, extending maturities and adding liquidity. The transactions included new money senior secured first lien first-out term loans funded by supporting creditors, along with the refinancing of over 98% of existing term loans into new second-out loans due November 2031, according to Cabinetworks Group.
Holders of approximately 96% of the company's outstanding unsecured notes due 2029 agreed to exchange them on a cashless basis into new senior secured notes due 2032, scheduled to close on May 18, 2026. The existing asset-based loan facility also received creditor consent for an amendment and restatement. Proceeds from the financing will cover accrued interest, transaction fees and expenses, with the remainder remaining on the company's balance sheet.
"The strong support from our debt investor base allows us to focus on our core businesses and long-term growth strategy," said Larry France, chief financial officer of Cabinetworks Group.
Cabinetworks Group is one of the largest U.S. manufacturers of cabinets serving the repair & remodel and new construction end-markets.
