Roofing Supply to launch $465 million credit facility on Thursday

By Sara Rosenberg

New York, May 8 - Roofing Supply Group LLC has scheduled a bank meeting for Thursday to launch an up to $465 million credit facility, according to a market source.

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.

The facility consists of a $175 million five-year ABL revolver and an up to $290 million seven-year term loan B, the source said.

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, the source added.

Closing is expected this quarter.

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

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