Kodiak Building launches $350 million term loan at SOFR plus 375 bps

By Sara Rosenberg

New York, March 14 – Kodiak Building Partners launched on Thursday its non-fungible $350 million incremental term loan B-2 due March 12, 2028 (B2/B+) with price talk of SOFR plus 375 basis points with a 0% floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months and no CSA, the source said.

RBC Capital Markets is the lead on the deal.

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

Proceeds will be used to fund a dividend to sponsor Court Square Capital Partners.

Kodiak Building is a Highlands Ranch, Colo.-based building products distribution platform and provider of fabrication and assembly services.

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