DALLAS, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (Nasdaq: BLDR), today announced that it increased the revolving facility commitments and extended the maturity date under its existing $900 million revolving credit facility.
In connection with the amended and restated Facility, the Company increased the total commitment from $900 million to $1.4 billion and extended the maturity date by 26 months to January 2026. The credit facility will be available for working capital needs, general corporate purposes and growth initiatives. Currently there are no borrowings outstanding on the credit facility. Truist Bank will continue to serve as administrative and collateral agent under the Facility.
Separately, on February 1, 2021, Moody’s Investors Service (“Moody’s”) upgraded Builders FirstSource’s Corporate Family Rating (“CFR”) two notches to Ba2 from B1.
“The increase and extension of this facility provides us with an improved capital base that better represents our larger reach and scale following the recent completion of our merger with BMC Stock Holdings,” said Peter Jackson, Chief Financial Officer of Builders FirstSource. “In addition, the recent double-notch upgrade to our credit rating from Moody’s further highlights the enhanced strength of our cash generation and balance sheet following our combination with BMC.”
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 550 locations and have a market presence in 44 of the top 50 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 our website at www.bldr.com.
