This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BMC Increases And Extends Credit Facility With Wells Fargo Capital Finance To Up To $125 Million

BOISE, Idaho, March 14, 2012 /PRNewswire/ -- BMC, one of the nation's leading providers of building materials and construction services, today announced that it has expanded its total line of credit to up to $125 million with Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), the company's working capital lender.  The expanded facility will provide the company greater financial flexibility to respond to opportunities in the market, with additional funds available as needed to support its general working capital needs and growth initiatives. 

The amendment extends BMC's existing credit facility from $50 million to $75 million and includes a revolving accordion feature that allows BMC to borrow up to an additional $50 million.  In addition, the amendment extends the term of the credit facility by three years to January 4, 2016, and reduces the interest rate and commitment fees thereby reducing the company's total borrowing costs. BMC currently has no cash borrowings under its existing facility.

"This expanded credit facility provides BMC with additional financial flexibility on improved economic terms," said Danny McQuary, chief financial officer of BMC. "We appreciate the continued support from Wells Fargo Capital Finance and believe that BMC is well positioned to take advantage of opportunities in our market and make strategic investments in our growth strategy."

"We have worked with BMC for more than two years and are pleased to extend and expand our relationship," said Guy Fuchs, executive vice president and head of the Corporate Finance Group of Wells Fargo Capital Finance.  "BMC has made impressive and tangible progress over the past few years, and we remain committed to supporting the company's future growth.  We look forward to a continued strong relationship with BMC."

BMC operates in 16 markets in nine states, eight of which are in the top 25 single family construction markets, and has approximately 3700 employees.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs