Builders FirstSource Launches Offering of $500 Million of Senior Notes due 2030
February 06 2020 - 6:30AM
Builders FirstSource, Inc. (Nasdaq: BLDR) (the
"Company") today announced that it has launched an offering of $500
million aggregate principal amount of unsecured Senior Notes due
2030 (the "Notes"). The Company intends to use the net proceeds
from the offering, together with borrowing under its senior secured
ABL facility, to redeem all of the outstanding aggregate principal
amount of its 5.625% Senior Secured Notes due 2024 (the “2024
Secured Notes”) and to pay related transaction premiums, fees and
expenses.
Consummation of the offering of the Notes is
subject to market and other conditions, and there can be no
assurance that the Company will be able to successfully complete
these transactions on the terms described above, or at all. Any
redemption of the 2024 Secured Notes would be made solely pursuant
to a redemption notice delivered pursuant to the indenture
governing the 2024 Secured Notes, and nothing contained in this
news release constitutes a notice of redemption of the 2024 Secured
Notes.
The Notes will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any
state securities law and may not be offered or sold within the
United States or to or for the account of any U.S. person, except
pursuant to an exemption from the registration requirements
thereof. Accordingly, the Notes will be offered and sold only to
(i) persons reasonably believed to be “qualified institutional
buyers” (as defined in Rule 144A under the Securities Act) and (ii)
non-“U.S. persons” who are outside the United States (as defined in
Regulation S under the Securities Act).
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy the Notes.
Cautionary Notice
Statements in this news release that are not
purely historical facts or that necessarily depend upon future
events, including statements about expected market share gains,
forecasted financial performance or other statements about
anticipations, beliefs, expectations, hopes, intentions or
strategies for the future, may be forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of
1934, as amended. Readers are cautioned not to place undue reliance
on forward-looking statements. In addition, oral statements made by
our directors, officers and employees to the investor and analyst
communities, media representatives and others, depending upon their
nature, may also constitute forward-looking statements. As with the
forward-looking statements included in this release, these
forward-looking statements are by nature inherently uncertain, and
actual results may differ materially as a result of many factors.
All forward-looking statements are based upon information available
to Builders FirstSource, Inc. on the date this release was
submitted. Builders FirstSource, Inc. undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. Any
forward-looking statements involve risks and uncertainties that
could cause actual events or results to differ materially from the
events or results described in the forward-looking statements,
including risks or uncertainties related to the Company’s growth
strategies, including gaining market share, or the Company’s
revenues and operating results being highly dependent on, among
other things, the homebuilding industry, lumber prices and the
economy. Builders FirstSource, Inc. may not succeed in addressing
these and other risks. Further information regarding factors that
could cause our financial and other results to differ materially
from the forward-looking statements we make herein can be found in
the risk factors sections of our most recent Annual Report on Form
10-K and Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission (the “SEC”) and may also be described from
time to time in the other reports the Company files with the SEC.
Consequently, all forward-looking statements in this release are
qualified by the factors, risks and uncertainties contained
therein.
About Builders FirstSource
Headquartered in Dallas, Texas, Builders
FirstSource is the largest U.S. supplier of building products,
prefabricated components, and value-added services to the
professional market segment for new residential construction and
repair and remodeling. We provide customers an integrated
homebuilding solution, offering manufacturing, supply, delivery and
installation of a full range of structural and related building
products. We operate in 40 states with approximately 400 locations
and have a market presence in 77 of the top 100 Metropolitan
Statistical Areas, providing geographic diversity and balanced end
market exposure. We service customers from strategically located
distribution and manufacturing facilities (certain of which are
co-located) that produce value-added products such as roof and
floor trusses, wall panels, stairs, vinyl windows, custom millwork
and pre-hung doors. Builders FirstSource also distributes
dimensional lumber and lumber sheet goods, millwork, windows,
interior and exterior doors, and other building products. For more
information about Builders FirstSource, visit the Company’s website
at www.bldr.com.
Contact:Binit SanghviVP Investor
RelationsBuilders FirstSource, Inc.(214) 765-3804
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