84 Lumber launches $350 million term loan B at Libor plus 525 bps

By Sara Rosenberg

New York, Sept. 21 – 84 Lumber Co. launched on Wednesday its $350 million seven-year covenant-light term loan B with price talk of Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year.

Wells Fargo Securities LLC and PNC Capital Markets are the leads on the deal.

Commitments are due on Oct. 5, the source said.

Proceeds will be used to refinance existing debt.

84 Lumber is an Eighty Four, Pa.-based supplier of building materials, manufactured components and services for single and multi-family residences and commercial buildings.

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