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Builders FirstSource to redeem $139.7 million second-priority floaters
By Marisa Wong
New York, May 13 - Builders FirstSource Inc. said it plans to redeem its $139.7 million principal amount of second-priority senior secured floating-rate notes due 2016 using proceeds from a $350 million senior secured notes offering and cash on hand.
The second-priority notes will be redeemed at par plus accrued interest.
Remaining proceeds from the new notes offering will be used to repay in full the company's $225 million term loan plus a roughly $39.1 million prepayment premium and terminate the existing credit facility.
Builders FirstSource is a Dallas-based supplier and manufacturer of structural and related building products for residential new construction.
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