Like homeowners who conclude that now is the best time to refinance a mortgage, several of America’s biggest LBM dealers all are securing new revolving credit facilities.
Beacon Roofing Supply converted $515 million worth of credit facilities into an arrangement worth about $565 million—money it can use “to more aggressively pursue growth,” chief financial officer David Grace says.
84 Lumber finalized a $225 million senior secured revolving credit facility that it intends to use in part to refinance existing debt.
ProBuild got a $505 million arrangement. The Denver-based LBM giant declined comment on the news, but its representative in the negotiations declared the refinancing “was important to the execution of ProBuild’s long-term strategic growth plan.”