Winnebago Industries announced the settlement in cash of the remaining $59.3 million aggregate principal amount of 1.50% unsecured convertible senior notes due April 1. Winnebago Industries has repaid a total of $159 million of debt to date in fiscal 2025.
Bryan Hughes, senior vice president and chief financial officer of Winnebago Industries, said, “Our fiscal 2025 debt reduction reflects our disciplined approach to capital allocation, prioritizing long-term growth ambitions while maintaining a strong balance sheet and healthy liquidity. This strategy positions Winnebago Industries to seize growth opportunities, manage cyclicality and reward shareholders through dividends and share repurchase programs. The recently completed cash tender offer for $100.0 million aggregate principal amount of our 6.25% senior secured notes due 2028, along with the settlement of the 2025 convertible notes, underscores our focus on executing capital priorities with rigor to enhance long-term financial stability and flexibility.”
Simultaneous with the cash settlement of the 2025 convertible notes, Winnebago Industries entered into agreements to unwind the related warrant transactions established at the time of their issuance.
