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Custom Building Products to launch $345 million facility on Friday
By Sara Rosenberg
New York, Nov. 28 - Custom Building Products is set to hold a bank meeting on Friday to launch a proposed $345 million credit facility, according to a market source.
Bank of America Merrill Lynch and RBC Capital Markets LLC are the lead banks on the deal.
The facility consists of a $30 million five-year revolver and a $315 million seven-year term loan B, the source said.
The term loan B has 101 soft call protection for one year.
Proceeds will be used to refinance existing debt and fund a dividend.
Custom Building Products is a Seal Beach, Calif., provider of installation solutions for tile and stone.
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