Builders FirstSource to launch $405 million credit facility Wednesday

By Sara Rosenberg

New York, Feb. 10 - Builders FirstSource is scheduled to hold a bank meeting on Wednesday afternoon for a proposed $405 million senior secured credit facility, a source close to the deal said. UBS is acting as sole lead arranger and administrative agent, and Bear Stearns is acting as co-arranger and syndication agent.

The facility consists of a $90 million five-year revolver talked at Libor plus 275 basis points, a $150 million six-year first lien term loan facility talked at Libor plus 300 basis points and a $165 million 61/2-year second lien term loan facility talked at Libor plus 600 basis points, according to the source.

Proceeds will be used to support JLL Partners' recapitalization of the company.

The company generated net sales for the last 12 months through Jan. 31of about $1.67 billion and EBITDA of about $70 million, the source added.

Builders FirstSource is a Dallas supplier of building products to professional, large-scale homebuilders.

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