BlueLinx announces new Asset Based Loan
October 09 2017 - 11:25PM
- Five-year term through 2022 --Interest Rates
lower than existing ABL-
BlueLinx Holdings Inc. (NYSE:BXC), a leading distributor of
building and industrial products in the United States, announced
today it has executed an agreement that provides the company with a
new five year, $335 million syndicated secured asset based
revolving credit facility, with an option to increase the total
commitments under the facility by up to $75 million subject to
certain conditions including the consent from the lenders providing
the incremental commitments (the “ABL Facility”). The ABL Facility,
which matures in 2022, replaces the company’s existing $335 million
credit facility that expires in July 2018. The ABL Facility is
expected to close and fund on October 10, 2017.
"We are very pleased to announce this new
five-year financing to support our working capital and growth
needs. The increased size and improved economic terms of this
financing represent a culmination of the tremendous efforts of our
associates over the last few years and the continued support of our
customer and supplier partners,” said Mitch Lewis, President and
CEO.
Wells Fargo Bank, National Association,
Administrative Agent, and Bank of America, N.A., Syndication Agent,
acted as the joint lead arrangers for the syndicated credit
facility.
Susan O’Farrell, Chief Financial Officer, added,
“We appreciate the long standing relationship with Wells Fargo and
Bank of America and welcome our new lending partners, BMO, Citizens
and SunTrust. We look forward to working with them as we
continue the momentum we have created at BlueLinx.”
About BlueLinx Holdings,
Inc.BlueLinx Holdings Inc., operating through its
wholly-owned subsidiary BlueLinx Corporation, is a leading
distributor of building and industrial products in the United
States. The Company is headquartered in Atlanta, Georgia and
operates its distribution business through a broad network of
distribution centers. BlueLinx is traded on the New York Stock
Exchange under the symbol BXC. Additional information about
BlueLinx can be found on its website at www.BlueLinxCo.com.
Forward-looking StatementsThis
press release includes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
All of these forward-looking statements are based on estimates and
assumptions made by our management that, although believed by us to
be reasonable, are inherently uncertain. Forward-looking statements
involve risks and uncertainties, including, but not limited to,
economic, competitive, governmental and technological factors
outside of our control, that may cause our business, strategy or
actual results to differ materially from the forward-looking
statements. These risks and uncertainties may include, among other
things: changes in the prices, supply and/or demand for products
that it distributes; inventory management and commodities pricing;
new housing starts and inventory levels of existing homes for sale;
general economic and business conditions in the United States;
acceptance by our customers of our privately branded products;
financial condition and creditworthiness of our customers; supply
from our key vendors; reliability of the technologies we utilize;
the activities of competitors; changes in significant operating
expenses; fuel costs; risk of losses associated with accidents;
exposure to product liability claims; changes in the availability
of capital and interest rates; adverse weather patterns or
conditions; acts of cyber intrusion; variations in the performance
of the financial markets, including the credit markets; and other
factors described in the “Risk Factors” section in the Registration
Statement on Form S-3 filed with Securities and Exchange Commission
(“SEC”) on August 28, 2017, as such risk factors may be amended or
supplemented from time to time and in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2016, its quarterly
Reports on Form 10-Q, and in its periodic reports filed with the
SEC from time to time. Given these risks and uncertainties, you are
cautioned not to place undue reliance on forward-looking
statements. Unless otherwise indicated, all forward-looking
statements are as of the date they are made, and we undertake no
obligation to update these forward-looking statements, whether as a
result of new information, the occurrence of future events, or
otherwise. Some of the forward-looking statements discuss the
company’s plans, strategies, expectations and intentions. They use
words such as “expects”, “may”, “will”, “believes”, “should”,
“approximately”, “anticipates”, “estimates”, “outlook”, and
“plans”, and other variations of these and similar words, and one
or more of which may be used in a positive or negative context.
4300 Wildwood ParkwayAtlanta, GA
303391-888-502-BLUEwww.BlueLinxCo.com
BlueLinx Contact Information:Susan O’Farrell,
SVP, CFO & Treasurer BlueLinx Holdings Inc. (770) 953-7000
Natalie Poulos, Investor RelationsBlueLinx Holdings Inc.(866)
671-5138Investor@bluelinxco.com
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