US LBM finalizes $848 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, Feb. 2 – US LBM Holdings LLC firmed pricing on its $848 million first-lien term loan due August 2022 (B3/B+) at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.

The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC and Barclays are the bookrunners on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 450 bps with a 1% Libor floor.

US LBM is a Green Bay, Wis.-based owner of building material distribution businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.