Builders FirstSource begins tender offer for $50 million of 10¾% notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – Builders FirstSource, Inc. began a cash tender offer for up to $50 million of its 10¾% senior notes due 2023, with the purchase price to be set by a modified Dutch auction procedure, according to a press release.

Acceptable bid prices will fall within a purchase price range of $1,135 to $1,175 per $1,000 principal amount of notes.

The company will determine a purchase price for notes tendered within the purchase price range that will allow it to purchase up to $50 million of notes within the purchase price range. If the total principal amount of notes is tendered at or below that clearing price, the company will prorate the notes it purchases.

Builders FirstSource will pay accrued interest on the notes from Sept. 1 to but excluding the purchase date. The company expects to fund the tender offer with borrowings under its existing ABL credit facility and cash on hand.

The offer will expire at 11:59 p.m. ET on Oct. 12.

D.F. King & Co., Inc. (888 887-1266, 212 269-5550 or BLDR@dfking.com) is the information agent and tender agent.

Builders FirstSource is a Dallas-based building materials manufacturer and supplier.

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