84 Lumber launches $450 million asset-based revolver

By Sara Rosenberg

New York, Feb. 20 - 84 Lumber Co. launched a $450 million five-year asset-based revolving credit facility on Wednesday morning, according to a market source.

SunTrust Robinson Humphrey and Wachovia are the lead banks on the deal.

Opening pricing on the revolver is Libor plus 250 basis points, with a 25 bps commitment fee, the source said. Pricing will be dependent upon availability.

Upfront fees are 1 bps per $1 million commitment.

The facility will replace an existing revolver and $275 million in private notes.

84 Lumber is an Eighty Four, Pa., supplier of building materials to contractors. Estimated 2007 revenues for the company are $3.045 billion.

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