Kodiak Building wraps $210 million add-on term loan B at 98.56 OID

By Sara Rosenberg

New York, Dec. 8 – Kodiak Building Partners priced a fungible $210 million add-on term loan B at an original issue discount of 98.56, according to a market source.

Pricing on the add-on term loan is Libor plus 325 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

The add-on and existing term loan are getting 101 soft call protection for six months.

RBC Capital Markets is the left lead on the deal.

Proceeds will be used to fund a shareholder distribution.

Pro forma for the transaction, the term loan B totals about $767 million.

Kodiak Building is a Highlands Ranch, Colo.-based building products distribution platform and provider of fabrication and assembly services.

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