Roofing Supply talks $290 million term loan B at Libor plus 450 bps

By Sara Rosenberg

New York, May 10 - Roofing Supply Group LLC launched its $290 million seven-year term loan B (B2) on Thursday with price talk of Libor plus 450 basis points with a 1.25% Libor floor and an original issue discount of 99, according to sources.

There is 101 soft call protection for one year, sources said.

The company's $465 million credit facility also includes a $175 million five-year ABL revolver.

Deutsche Bank Securities Inc., Goldman Sachs & Co., Credit Suisse Securities (USA) LLC, UBS Investment Bank and Citigroup Global Markets Inc. are the lead banks on the deal.

Proceeds will be used to help fund the purchase of the company by Clayton, Dubilier & Rice LLC from the Sterling Group.

Other funds for the transaction will come from $200 million of eight-year senior notes.

Commitments towards the credit facility are due on May 24, sources added.

Closing is expected this quarter.

Roofing Supply Group is a Dallas-based wholesale distributor of roofing supplies and related materials.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.