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Builders FirstSource Prices Offering Of $350.0 Million Of Senior Secured Notes Due 2021

Stocks in this article: BLDR

DALLAS, May 16, 2013 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (Nasdaq:BLDR), a leading supplier and manufacturer of structural and related building products for residential new construction in the United States, today announced that it priced its previously announced private offering of $350.0 million aggregate principal amount of 7.625% Senior Secured Notes due 2021 (the "Notes"). The price to investors will be 100% of the principal amount of the Notes. The company expects to close the offering on May 29, 2013.

Net proceeds from the offering, together with cash on hand, will be used to (i) redeem the company's $139.7 million aggregate principal amount of second priority senior secured floating rate notes due 2016 at par plus accrued and unpaid interest thereon to the redemption date, (ii) repay in full $225.0 million in term loan borrowings outstanding under the company's existing credit facility plus a prepayment premium of approximately $39.1 million and accrued and unpaid interest and terminate the company's existing credit facility and (iii) pay fees and expenses in connection therewith.

The Notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The issuance and sale of the Notes will not be registered under the Securities Act, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes.

About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction. The company operates 53 distribution centers and 44 manufacturing facilities in 9 states, principally in the southern and eastern United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products.

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