US LBM readies launch of $1.5 billion of term loans for Tuesday

By Sara Rosenberg

New York, Nov. 30 – US LBM (LBM Acquisition LLC) is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch $1.5 billion of term loans, according to a market source.

Barclays, BofA Securities Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, Truist, Deutsche Bank Securities Inc. and U.S. Bank are the bookrunners on the deal. Barclays is the administrative agent.

The debt consists of a $1.2 billion senior secured term loan B and a $300 million delayed-draw term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Bain Capital Private Equity.

Other funds for the transaction will come from $390 million of unsecured debt.

Closing is expected in December, subject to customary conditions, including regulatory approvals.

US LBM is a Buffalo Grove, Ill.-based distributor of specialty building materials.

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