Boise Cascade secures additional financing
Boise Cascade, one of the largest distributors of engineered wood products and building materials in the U.S., has secured a $350 million asset-based loan that will be used for working capital and to refinance existing debt. Banc of America Securities provided Boise Cascade with the credit facility, which includes a $150 million accordion feature, according to the announcement.
Boise Cascade treasurer Wayne Rancourt said the loan should “help us grow our distribution and engineered wood products business by increasing our position in existing markets, entering new geographic markets and expanding our product line.”
Headquartered in Boise, Idaho, Boise Cascade manufactures engineered wood products, plywood, lumber, and particleboard and distributes a broad line of building materials through 30 wholesale locations throughout the United States. Sales for fiscal 2007 were $5.4 billion.