Foundation Building to launch $1 billion term loan B-2 on Friday

By Sara Rosenberg

New York, Jan. 18 – Foundation Building Materials will hold a lender call at 10 a.m. ET on Friday to launch a $1 billion seven-year term loan B-2, according to a market source.

RBC Capital Markets is the left lead on the deal.

Proceeds will be used to partially pay down a HoldCo seller note and to fund a shareholder dividend.

The company has an existing roughly $1.28 billion term loan B-1 that is priced at SOFR+10 basis points CSA plus 325 bps.

American Securities is the sponsor.

Foundation Building is a Santa Ana, Calif.-based specialty distributor of wallboard, metal framing and suspended ceiling systems.

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