US LBM sets Monday lender call for $50 million term loan tack-on

By Paul A. Harris

Portland, Ore., April 10 – US LBM set a lender call at 10:30 a.m. ET on Monday to present to investors a proposed $50 million tack-on to its senior secured term loan due May 2020, according to a market source.

Commitments will be due on Thursday.

Credit Suisse Securities (USA) LLC is leading the deal.

Pricing is Libor plus 700 basis points with a 1% Libor floor.

The issue price remains to be determined.

As with the existing loan the tack-on paper is callable at 102 through November 2015, with ensuing call premiums at 101.5 and 101.

The existing term loan is sized at $450 million.

The tack-on paper will become fungible with the original loan.

The borrower is a Green Bay, Wis.-based owner of building material distribution businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.