DALLAS, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (Nasdaq: BLDR) announced that it has priced an offering of $550 million aggregate principal amount of unsecured 5.000% Senior Notes due 2030 (the "Notes"), which represents a $50 million increase in the previously announced size of the offering. The price to investors will be 100.000% of the principal amount of the Notes.
The Company 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 (the “2024 Secured Notes”), to redeem $47.5 million aggregate principal amount of its 6.750% Senior Secured Notes due 2027 (the “2027 Secured Notes”), and to pay related transaction premiums, fees and expenses.
Consummation of the offering of the Notes is subject to market and other closing conditions, and there can be no assurance that the Company will be able to successfully complete these transactions on the terms described above, or at all. Any redemption of the 2024 Secured Notes or the 2027 Secured Notes would be made solely pursuant to a redemption notice delivered pursuant to the indenture governing the 2024 Secured Notes or the indenture governing the 2027 Secured Notes, and nothing contained in this news release constitutes a notice of redemption of the 2024 Secured Notes or the 2027 Secured Notes.
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 40 states with approximately 400 locations and have a market presence in 77 of the top 100 Metropolitan Statistical Areas, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products. For more information about Builders FirstSource, visit the Company’s website at www.bldr.com.
