Building Materials to price $1.1 billion 10-year notes on Monday

By Paul A. Harris

Portland, Ore., Oct. 27 – Building Materials Corp. of America plans to price $1.1 billion of 10-year senior notes (existing ratings Ba3/BB+) on Monday following a mid-morning conference call with investors, according to a market source.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and BofA Merrill Lynch are the joint bookrunners.

The notes come with five years of call protection and feature a three-year 40% equity clawback.

The Wayne, N.J.-based roofing and building materials company plans to use the proceeds to refinance its 6 7/8% senior notes due 2018, its 7% senior secured notes due 2020 and its 7½% senior notes due 2020.

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