IRVING, Texas - Builders FirstSource, Inc. (NYSE:BLDR), a leading supplier of building materials, announced an increase in its senior notes offering to $1 billion, a rise from the $600 million initially proposed.
The senior notes carry an interest rate of 6.375% and are due in 2034. The offering is set to close on February 29, 2024, subject to standard closing conditions.
The company plans to allocate the net proceeds from the sale of these unregistered senior notes towards the repayment of debt under its Asset-Based Lending (ABL) facility and for general corporate purposes. The notes were offered to qualified institutional buyers and non-U.S. persons in compliance with the Securities Act regulations, ensuring no public solicitation in the United States.
Builders FirstSource, headquartered in Irving, Texas, is recognized as the largest supplier of building products and services to the professional market segment in the U.S., particularly for new residential construction and repair and remodeling. With a strategic presence in 43 states and around 570 locations, the company maintains a diversified geographic footprint and balanced market exposure.
The company's comprehensive offerings include the manufacturing, supply, delivery, and installation of a broad range of structural and related building products. Builders FirstSource's extensive network of distribution and manufacturing facilities produces specialized products like roof and floor trusses, wall panels, stairs, vinyl windows, and custom millwork, alongside the distribution of traditional building materials.
In their press release, Builders FirstSource also included forward-looking statements, cautioning readers and potential investors that actual future events or results could materially differ from those projected due to various risks and uncertainties. These include market conditions, economic factors, industry dynamics, and commodity prices, among others.
The details provided are based on a press release statement from Builders FirstSource, Inc. and do not constitute an offer to sell or a solicitation of an offer to buy the mentioned securities.
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