Armstrong World Industries Announces Refinancing and Special Dividend of $13.74

Armstrong World Industries, Inc. AWI announced today that it has closed on a new $1.050 billion senior secured credit facility and that its board of directors has declared a special cash dividend of $13.74 per share (approximately $800 million in the aggregate). Armstrong's new credit facility includes $800 million of new term loans, a portion of which was used to repay $430 million principal amount of existing debt, and the remainder of which will be used to partially fund the special cash dividend.