Builders FirstSource increases note offering to $550 million

Senior notes will be used to pay previous notes due 2024 and 2027.

BY HBSDealer Staff

Builders FirstSource announced that it has increased of senior notes offering by $50 million to $550 million.

On Jan. 6, the Dallas, Texas-based pro dealer said it was offering $500 million in unsecured 5% senior noted due in 2030. But following the closing of the stock market yesterday, Builders FirstSource announced the increase.

The dealer intends to use the net proceeds from the offering, together with borrowing under its senior secured ABL facility, to redeem all of the outstanding aggregate principal amount of its 5.625% senior secured notes due 2024, to redeem $47.5 million aggregate principal amount of its 6.750% senior secured notes due 2027, and to pay related transaction premiums, fees and expenses.

Builders FirstSource operates more than 400 locations in 40 states. The company will report its fourth quarter and year-end earnings and sales results after the market closes on Feb. 21.




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