Installed Building Products Announces Plans to Reprice Its Existing Term Loan B Facility
November 15 2017 - 7:00AM
Business Wire
Installed Building Products, Inc. (the “Company”) (NYSE: IBP),
an industry-leading installer of insulation products, announced
today that the Company is seeking to reprice its existing
seven-year $300 million Term Loan B facility.
The objectives of the repricing are to reduce the borrowing
costs under the existing facility and make certain other changes to
the existing agreement. The terms of the potential repricing will
be disclosed upon the completion of the transaction, which is
expected to be announced in the next several weeks. The proposed
repricing is subject to market and other conditions, and there can
be no assurance that it will be completed.
The lender’s presentation is available in the investor relations
section on the Company’s website.
About Installed Building Products
Installed Building Products, Inc. is one of the nation's largest
insulation installers for the residential new construction market
and is also a diversified installer of complementary building
products, including waterproofing, fire-stopping and fireproofing,
garage doors, rain gutters, shower doors, closet shelving and
mirrors, throughout the United States. The Company manages all
aspects of the installation process for its customers, including
direct purchases of materials from national manufacturers, supply
of materials to job sites and quality installation. The Company
offers its portfolio of services for new and existing single-family
and multi-family residential and commercial building projects from
its national network of branch locations.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including with respect
to the timing and completion of the potential repricing, demand for
our services, expansion of our national footprint, our ability to
capitalize on the new home construction recovery, our ability to
strengthen our market position, our ability to pursue and integrate
value-enhancing acquisitions, our ability to improve sales and
profitability, and expectations for demand for our services and our
earnings for the remainder of 2017. Forward-looking statements may
generally be identified by the use of words such as "anticipate,"
"believe," "expect," "intends," "plan," and "will" or, in each
case, their negative, or other variations or comparable
terminology. These forward-looking statements include all matters
that are not historical facts. By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future. Any forward-looking statements that we make herein and in
any future reports and statements are not guarantees of future
performance, and actual results may differ materially from those
expressed in or suggested by such forward-looking statements as a
result of various factors, including, without limitation, the
factors discussed in the “Risk Factors” section of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2016, as
the same may be updated from time to time in our subsequent filings
with the Securities and Exchange Commission. Any forward-looking
statement made by the Company in this press release speaks only as
of the date hereof. New risks and uncertainties arise from time to
time, and it is impossible for the Company to predict these events
or how they may affect it. The Company has no obligation, and does
not intend, to update any forward-looking statements after the date
hereof, except as required by federal securities laws.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171115005372/en/
Installed Building Products, Inc.Investor Relations,
614-221-9944investorrelations@installed.net
Installed Building Produ... (NYSE:IBP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Installed Building Produ... (NYSE:IBP)
Historical Stock Chart
From Apr 2023 to Apr 2024