Builder FirstSource (BFS) launched an offering of $75 million aggregate principal amount of 6.75% senior secured notes due 2027, according to a news release from the company. The notes will form part of the same series as the $400 million aggregate principal amount of 6.75% notes due 2027 issued in late May.

Dallas-based BFS plans to use the proceeds from the offering to redeem $75 million aggregate principal amount of its outstanding 5.635% senior secured notes due 2024 and pay related transaction fees and expenses. According to the dealer, consummation of the offering is subject to the market and “there can be no assurance” BFS will be able to successfully complete these transactions.

BFS operates in 40 states with approximately 400 locations, serving 77 of the top 100 metropolitan statistical areas. The dealer posted a net income of $35.7 million in the first quarter of 2019 and ranked second on the 2019 ProSales 100 list.