Cornerstone Building draws $260 million under revolvers

By Wendy Van Sickle

Columbus, Ohio, April 1 – Cornerstone Building Brands, Inc. borrowed $260 million under its asset-based revolving credit facility and its cash flow revolver to increase its cash on hand, according to a news release.

Both revolvers expire in April 2023.

The borrowings were made as precautionary measures to maintain financial flexibility and enhance liquidity.

As of March 31, the company had cash and cash equivalents of over $400 million.

Cornerstone is a Cary, N.C.-based manufacturer of exterior building products.

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