Beacon Roofing tightens talk on $300 million eight-year notes to 6 3/8%-6½%; pricing Thursday

By Paul A. Harris

Portland, Ore., Sept. 23 – Beacon Roofing Supply Inc. tightened the yield talk on its $300 million offering of eight-year senior notes (B3/B+) on Wednesday afternoon, according to a syndicate source.

Talk is now 6 3/8% to 6½%, revised from the 6½% to 6¾% official yield talk that circulated Wednesday morning.

Books close at 10 a.m. ET on Thursday, and the Rule 144A and Regulation S offering is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner. Citigroup Global Markets Inc., BofA Merrill Lynch, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The notes come with three years of call protection.

Proceeds, along with proceeds from the company’s new $1.15 billion credit facility, will be used to fund the cash consideration of the acquisition of Dallas-based roofing supplies wholesale distributor Roofing Supply Group and repay certain existing debt of Roofing Supply.

Beacon Roofing Supply is a Herndon, Va.-based distributor of residential and commercial roofing materials and complementary building products.

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