Winnebago Industries, Inc. (NYSE: WGO) has confirmed it will retire $100 million of its 6.25% Senior Secured Notes due 2028 later this month, reducing the outstanding balance of the debt issuance by half.
The company stated that the redemption will take place on February 20, and applies to $100 million of the $200 million total principal originally issued according to a press release.
In accordance with the governing indenture, the notes will be redeemed at 100% of their principal value, together with accrued and unpaid interest up to, but excluding, the redemption date.
“This redemption reflects our stated focus on improving balance sheet leverage while continuing to generate cash flow and maintain strong cash balances,” said Winnebago Industries’ Chief Financial Officer Bryan Hughes.
“We expect our balance sheet to strengthen further during the seasonally stronger second half of our fiscal year, enhancing our financial flexibility as we continue to prioritize leverage improvement within a balanced capital allocation strategy,” Bryan added.
Notice of the redemption was issued on February 5, 2026, and distributed to noteholders by U.S. Bank Trust Company, National Association, which acts as trustee for the notes.
The company also noted that the announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase any securities.
It further clarified that no offer, solicitation or sale will occur in any jurisdiction where such actions would be unlawful.
Winnebago Industries is one of North America’s prominent manufacturers of outdoor recreation and marine products, with brands including Winnebago, Grand Design, Chris-Craft, Newmar and Barletta.
By proactively reducing secured debt ahead of maturity, Winnebago is reinforcing financial resilience, a move that carries significance for the broader RV industry as manufacturers navigate shifting market cycles and capital allocation priorities.