BMC amends credit facility
BMC, the Boise, Idaho-based pro dealer, has announced an amendment to its senior secured credit facility with Wells Fargo Capital Finance, the company’s working capital lender. The new agreement lowers the rates and fees payable under the facility and increases the company’s borrowing capacity to the full $50 million amount available.
BMC has had no cash borrowings under the facility since it was put in place on Jan. 4, 2010, and anticipates none in the coming year.
In a prepared statement, Peter Alexander, the company’s CEO, said: “Provisions of the amendment will provide the company increased flexibility to make investments to profitably grow its business despite continued challenging market conditions.”
BMC serves 18 major markets in nine states with 76 business units and has nearly 4,000 employees.