American Builders gets tenders for 51.34% of 5 5/8% notes, to call rest

By Susanna Moon

Chicago, May 11 – American Builders & Contractors Supply Co., Inc. said investors had tendered $102,538,000 principal amount, or 51.34%, of its $200 million of 5 5/8% senior notes due 2021.

The tender count excludes another $21,000 of notes that were tendered under guaranteed delivery procedures, according to the results announced Friday.

As announced May 1, the company is offering to pay $1,015.65 per $1,000 principal amount of the notes plus accrued interest up to but excluding the settlement date.

The tender ended at 5 p.m. ET on May 8. Settlement is planned for May 11.

The company said it plans to finance the offer using proceeds to be raised from its private placement of $600 million 5 7/8% senior notes due 2026, which priced May 1, 2018 at par.

Proceeds also will be used to redeem the remaining 2021 notes at a redemption price of 101.406% of par plus accrued interest through the redemption date, the company added on Friday.

Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) is dealer manager. D.F. King & Co., Inc. (800 431-9645 or www.dfking.com/abcsupply) is information and tender agent.

American Builders is a Beloit, Wis., wholesale distributor of exterior and interior building products to professional contractors.

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