US LBM launches $853 million first-lien term loan to investors

By Sara Rosenberg

New York, Aug. 3 – US LBM Holdings LLC held a call at 3 p.m. ET on Thursday to launch an $853 million first-lien term loan (B3/B+) due August 2022, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The term loan is talked at Libor plus 450 basis points with a 1% Libor floor and a par issue price, the source said.

Included in the term loan is 101 soft call protection for six months.

Proceeds will be used to reprice an existing term loan from Libor plus 525 bps with a 1% Libor floor.

Commitments are due on Wednesday, the source added.

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

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