Foundation Building wraps $70 million add-on first-lien term loan

By Sara Rosenberg

New York, May 9 – Foundation Building Materials LLC completed syndication of a $70 million add-on first-lien term loan (B), according to a market source.

RBC Capital Markets led the deal.

Pricing on the add-on term loan matches existing term loan pricing at Libor plus 625 basis points with a 1% Libor floor, the source said.

Proceeds will be used to fund the acquisition of four regional building material distributors.

Foundation Building is a Tustin, Calif.-based building material company.

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