Beacon Roofing Supply to sell $300 million seven-year secured notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., Sept. 25 – Beacon Roofing Supply, Inc. plans to price a $300 million offering of seven-year senior secured notes in a Wednesday drive-by following a late-morning conference call with investors, according to market sources.

Initial guidance has the deal coming to yield in the 4¾% area, a trader said.

Wells Fargo Securities LLC is the left bookrunner. Citigroup Global Markets Inc. is the joint bookrunner.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon.

The Herndon, Va.-based roofing materials distributor plans to use the proceeds, together with cash on hand and/or available borrowings under its ABL facility, to redeem all of its outstanding 2023 senior notes.

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