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Custom Building talks $315 million term loan B at Libor plus 475 bps
By Sara Rosenberg
New York, Nov. 30 - Custom Building Products launched on Friday its $315 million seven-year term loan B with price talk of Libor plus 475 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.
The term loan B has 101 soft call protection for one year.
The company's $345 million credit facility also includes a $30 million five-year revolver.
Bank of America Merrill Lynch and RBC Capital Markets LLC are the lead banks on the deal.
Proceeds will be used to refinance existing debt and to fund a dividend.
Custom Building Products is a Seal Beach, Calif., provider of installation solutions for tile and stone.
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