GMS readies launch of $998 million term loan B for Monday morning

By Sara Rosenberg

New York, May 3 – GMS Inc. (GYP Holdings III Corp.) is scheduled to hold a lender call at 11 a.m. ET on Monday to launch a $998 million seven-year first-lien term loan B, according to a market source.

Barclays and Credit Suisse Securities (USA) LLC are the bookrunners on the deal. Credit Suisse is the administrative agent.

Proceeds will be used to extend the maturity of an existing $573 million first-lien term loan B and the $425 million of incremental term loan B debt will be used to help fund the acquisition of WSB Titan, a Toronto-based gypsum specialty dealer, from current management and TorQuest Partners for about $627 million.

Closing is expected late in the second quarter, subject to the expiration or termination of the applicable waiting periods under the Canadian Competition Act and other customary conditions.

GMS is a Tucker, Ga.-based distributor of wallboard and suspended ceilings systems.

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