Foundation Building Materials Prices $450 Million Term Loan
May 14 2018 - 4:40PM
Business Wire
Foundation Building Materials, Inc. (“FBM” or the “Company”)
(NYSE:FBM), one of the largest specialty distributors of wallboard,
suspended ceiling systems and mechanical insulation in North
America, announced today the pricing of its proposed $450 million
term loan. The term loan was priced with a spread of LIBOR plus 325
basis points and was issued at an original issue discount of 99.75.
The term loan, along with drawings under the Company’s ABL
revolver, will be used to redeem FBM’s existing 8.25% senior
secured notes due 2021 and pay related expenses. The transaction is
expected to close in August 2018. The transaction was arranged by
RBC Capital Markets, Goldman Sachs Bank USA, SunTrust Robinson
Humphrey, Inc. and Stifel Syndicated Credit LLC.
About Foundation Building
Materials
Foundation Building Materials is a specialty building products
distributor of wallboard, suspended ceiling systems, and mechanical
insulation throughout North America. Based in Tustin, California,
the Company employs more than 3,700 people and operates more than
220 branches across the U.S. and Canada.
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version on businesswire.com: https://www.businesswire.com/news/home/20180514006381/en/
Investor RelationsFoundation Building Materials, Inc.John Moten,
657-900-3200investors@fbmsales.comorMedia Relations:Joele Frank,
Wilkinson Brimmer KatcherJoe Sala or Ed Trissel212-355-4449
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