US LBM Holdings reduces tack-on first-lien term loan to $40 million

By Sara Rosenberg

New York, Nov. 24 – US LBM Holdings LLC downsized its tack-on first-lien term loan due Aug. 20, 2022 to $40 million from $50 million, according to a market source.

Pricing on the loan was unchanged at Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 96.

The spread and the floor on the add-on match existing first-lien term loan pricing.

As before, all of the first-lien term loan debt will get 101 soft call protection for one year.

Recommitments were due at 2 p.m. ET on Tuesday, the source added.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to repay ABL borrowings related to acquisitions.

US LBM is a Green Bay, Wis.-based owner of building material distribution businesses.

© 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.