BMC announces debt refinancing
Boise, Idaho-based BMC announced the closing of its $250 million aggregate principal amount private offering of Senior Secured Notes due 2018.
BMC used the net proceeds of the Senior Secured Notes offering to refinance its term loan, pay down its asset-based lending revolver, and pay related fees and expenses. BMC intends to use the remainder of the net proceeds for general corporate purposes.
“We are pleased with the positive response we received with respect to this offering and the ongoing support of all of our stakeholders,” said Peter Alexander, BMC CEO. “BMC continues to benefit from the improving housing market recovery, and I believe this offering will better position the company for success by strengthening our balance sheet.”
BMC distributes lumber and other building materials and provides customized millwork solutions and installation, as well as targeted construction services through 29 lumberyards, 15 truss manufacturing facilities and 24 millwork operations.
The company was honored by HCN as the 2012 Pro Dealer of the Year.