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Building Materials gets tenders for 97.5% of 2007 notes, 96.9% of 2008 notes
By Michelle Anderson
Rochester, N.H., Feb. 23 - Building Materials Corporation of America said it received tenders from holders of 97.5% of its 8% notes due 2007 and 96.9% of its 8% notes due 2008, according to a press release issued Friday.
The tender ended on Feb. 21 after being extended from its original date of Jan. 23.
The Wayne, N.J.-based roofing products company previously said it received consents from a majority of noteholders by 5 p.m. ET on Jan. 4, the consent deadline. The company said it will execute supplemental indentures.
Funding for the tender and the acquisition of ElkCorp came from a new $975 million term loan facility, a new $600 million revolving credit facility and a $325 million bridge loan facility.
Bear, Stearns & Co. Inc. (877 696-2327) and Deutsche Bank Securities (800 553-2826) was the dealer manager for the tender. D.F. King & Co. Inc. was the information agent (call collect 212 269-5550 or 800 628-8536).
Building Materials Corporation of America is a Wayne, N.J.-based roofing products company.
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