American Builders launches $1.42 billion term B at SOFR plus 200 bps

By Sara Rosenberg

New York, Jan. 22 – American Builders & Contractors Supply Co. Inc. (ABC Supply Co. Inc.) held a lender call at 10 a.m. ET on Monday to launch a $1.415 billion seven-year term loan B (Ba2) that is talked at SOFR plus 200 basis points with a 0% floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BofA Securities Inc. and Morgan Stanley Senior Funding Inc. are the arrangers on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance the company’s existing term loans.

American Builders is a distributor of building products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.