Building Materials Holding Corp. (BMHC), the industry’s 4th largest pro dealer, has announced that it has entered discussions with its lenders to lift certain conditions to borrowing under its credit facility. The San Francisco-based company is also negotiating to permanently amend its credit agreement to better reflect market conditions.
BMHC’s existing credit facility includes a revolver of $500 million, a term loan of $350 million and an option to increase the credit facility by an aggregate amount of $250 million. As of Dec. 31, 2007, there were no borrowings under the revolver, and $346 million was outstanding under the term loan.
In a press release issued Monday, the company said it is currently compiling its financial statements for the fourth quarter of 2007 and the entire year. In 2006, BMHC reported $3.24 billion in total sales. The company is made up of two subsidiaries: BMC West and SelectBuild.