Summit Materials to launch term loan B repricing on Monday morning

By Sara Rosenberg

New York, Jan. 6 – Summit Materials LLC is set to hold a lender call at 11 a.m. ET on Monday to launch a repricing of its term loan B that is talked at Libor plus 275 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

Bank of America Merrill Lynch is the lead bank on the deal.

At closing in 2015, the term loan B was sized at $650 million and priced at Libor plus 325 bps with a 1% Libor floor and a step-down to Libor plus 300 bps based on leverage.

Summit Materials is a Denver-based construction materials company.

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