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Bain Capital buyout of US LBM to include $390 million unsecured debt
By Paul A. Harris and Sara Rosenberg
Portland, Ore., Nov. 30 – The buyout of U.S. LBM Holdings Inc. by Bain Capital Private Equity will include $390 million of unsecured debt, according to a market source.
A bank deal also backing the buyout, comprised of a $1.2 billion term loan and a $300 million delayed-draw term loan, is set to launch at a Tuesday bank meeting via bookrunners Barclays, BofA Securities Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, Truist, Deutsche Bank Securities Inc. and U.S. Bank.
The borrowing entity coming to the bond and bank loan market will be special purpose vehicle LBM Acquisition, LLC.
The buyout of the Buffalo Grove, Ill.-based distributor of specialty building materials is expected to close in December.
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