Builders FirstSource, Inc. (NYSE: BLDR) has announced the launch of an offering of $500 million aggregate principal amount of unsecured senior notes due 2035. The net proceeds from the offering are intended to be used to repay indebtedness outstanding under the ABL facility.
As of the last reported period, Builders FirstSource operated in 43 states with approximately 595 locations. The company has a market presence in 48 of the top 50 and 92 of the top 100 MSAs, providing geographic diversity and balanced end market exposure.
Builders FirstSource provides an integrated homebuilding solution, offering manufacturing, supply, delivery, and installation of a full range of structural and related building products. The company's offerings include roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork, pre-hung doors, dimensional lumber, lumber sheet goods, millwork, windows, interior and exterior doors, and other specialty building products.
The $500 million aggregate principal amount of unsecured senior notes due 2035 is subject to market and other conditions, and the company has stated that there can be no assurance that the offering will be successfully completed on the terms described above, or at all.
It's important to note that the notes will not be registered under the Securities Act of 1933, as amended, or any state securities law and may not be offered or sold within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements. The notes will be offered and sold only to qualified institutional buyers and non-U.S. persons who are outside the United States.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes. Today the company's shares have moved -1.3% to a price of $112.66. If you want to know more, read the company's complete 8-K report here.
