ABC Supply talks downsized $500 million eight-year notes at 5¾% area; pricing Thursday

By Paul A. Harris

Portland, Ore., April 4 - American Builders & Contractors Supply Co. Inc. downsized its bond offering to $500 million from $600 million and talked the offering of eight-year senior notes (B3/B) with a yield in the 5¾% area, according to a market source.

At the same time the company upsized its term loan.

Pricing is expected before the close Thursday.

Deutsche Bank Securities Inc., BofA Merrill Lynch and UBS Securities LLC are the joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to help finance the redemption of the minority shares held by Advent International, Apollo, and the founding family of the legacy Bradco Supply business, and to redeem all outstanding stock appreciation rights.

The company is a Beloit, Wis.-based building supply company.

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