ABC Supply to sell $800 million eight-year notes in Tuesday drive-by; talk mid-to-high 5% area

By Paul A. Harris

Portland, Ore., May 1 – American Builders & Contractors Supply Co., Inc. (ABC Supply Co., Inc.) plans to price an $800 million offering of eight-year senior notes in a quick-to-market Tuesday trade, according to market sources.

Initial guidance has the deal coming in the mid-to-high 5% area.

Deutsche Bank Securities Inc. is leading the notes offering, which is being made to qualified institutional investors.

The notes come with three years of call protection.

The Beloit, Wis.-based wholesale distributor of roofing and exterior building products announced that it intends to use a portion of the proceeds to refinance $200 million of its 5 5/8% senior notes due 2021 via a tender offer announced Tuesday, and/or by means of redemption at the current redemption price of 101.406.

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