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SRS Distribution to pay down ABL borrowings with notes proceeds
By Sara Rosenberg
New York, Nov. 8 – SRS Distribution Inc. plans to repay existing borrowings under its ABL facility with a portion of the proceeds from a $850 million senior unsecured notes offering, according to a market source.
Remaining proceeds from the notes will be used to fund recent and pending acquisitions and add cash to the balance sheet.
SRS Distribution is a McKinney, Tex.-based roofing products distributor.
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