GMS sets Tuesday investor call for $300 million eight-year notes; pricing expected Thursday

By Paul A. Harris

Portland, Ore., April 12 – GMS Inc. plans to price a $300 million offering of eight-year senior notes on Thursday, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with guidance in the mid-5% area, a trader said.

Barclays is the lead bookrunner. Citizens Capital Markets Inc. and BofA Securities Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The issuing entity will be GYP Holdings III Corp., a direct, wholly owned subsidiary of GMS.

The Tucker, Ga.-based provider of building supplies plans to use the proceeds to partially refinance its senior secured first-lien term loan.

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