(Bloomberg) -- Owens Corning is testing investor appetite for bonds that will help refinance a portion of its $3.9 billion acquisition of doormaker Masonite International Corp.

The residential-materials producer is holding calls with investors on Tuesday that may result in a sale of senior unsecured notes, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. Morgan Stanley, Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. are arranging the calls, the person said. 

Owens Corning filed Tuesday to offer bonds in at least three tranches. The proceeds will repay some of the $2.8 billion the company borrowed under a 364-day bridge loan to pay for the deal when it closed May 15. 

Though the market has slowed from a record first quarter for issuance this year, borrowers are still looking to take advantage of risk premiums hovering near the lowest in two years. Meanwhile, demand has remained strong as investors continue to be lured by elevated all-in yields.

Owens Corning also closed a tender offer for about $471 million of Masonite’s 5.375% notes due 2028 and an exchange offer for $373 million of Masonite’s 3.5% notes due 2030 as part of the acquisition. 

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