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Doormaker Masonite gets more time from debt holders

Masonite International Corp., the Canadian doormaker that runs its international headquarters out of Tampa, has won a partial reprieve. Two of the company's subsidiaries on Monday said they have reached forbearance agreements with a majority of holders of a combined $770-million in senior subordinated notes due in 2015. But Masonite remains in negotiations with bank lenders over extending another forbearance agreement that expired last week. Masonite, which is owned by corporate buyout giant Kohlberg, Kravis, Roberts & Co., said it had about $205-million in cash on hand as of Nov. 11.

Doormaker Masonite gets more time from debt holders 11/17/08 [Last modified: Monday, November 17, 2008 7:55pm]
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