MRO Magazine

Trex Company Completes Debt Refinancing


January 13, 2016
By Business Wire News

WINCHESTER, Va.

Trex Company, Inc. (NYSE: TREX), the world’s number one brand of decking and railing and leader in high-performance, low-maintenance outdoor living products, has completed an amendment to its senior secured credit facility. The amended cash flow lending facility, obtained through Bank of America, Citibank, N.A., Capital One, N.A., and SunTrust Bank, is a seasonal facility that provides for a maximum principal amount of $250 million from January through June of each year and $200 million from July through December of each year. With a maturity of January 12, 2021, the new facility strengthens the Company’s capital structure.

Trex President and CEO James E. Cline remarked, “We are pleased to have expanded the borrowing capacity of our credit facility with this syndicate group. The expansion positions us well to pursue strategies aimed at optimizing Trex’s capital structure and executing the Company’s strategic objectives.”

Forward-Looking Statements

The statements in this press release regarding the Company’s expected future performance and condition constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company’s actual operating results to differ materially. Such risks and uncertainties include the extent of market acceptance of the Company’s products; the costs associated with the development and launch of new products and the market acceptance of such new products; the sensitivity of the Company’s business to general economic conditions; the impact of weather-related demand fluctuations on inventory levels in the distribution channel and sales of the Company’s products; the Company’s ability to obtain raw materials at acceptable prices; the Company’s ability to maintain product quality and product performance at an acceptable cost; the level of expenses associated with product replacement and consumer relations expenses related to product quality; and the highly competitive markets in which the Company operates. Documents filed with the Securities and Exchange Commission by the Company, including in particular its latest annual report on Form 10-K and quarterly reports on Form 10-Q, discuss some of the important factors that could cause the Company’s actual results to differ materially from those expressed or implied in these forward-looking statements. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Trex Company

Trex Company is the world’s largest manufacturer of wood-alternative decking and railing, with more than 20 years of product experience. Stocked in more than 6,700 retail locations throughout the world, Trex® outdoor living products offer a wide range of style options with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. For more information, visit trex.com.

For Trex Company, Inc.
Bryan H. Fairbanks, 540-542-6300
VP & CFO
or
LHA
Harriet Fried, 212-838-3777