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December 18, 2012
08:39 EDTBLDRBuilders FirstSource increases liquidity by $93M to support sales growth
Builders FirstSource announced it amended its first-lien term loan agreement with affiliates of Highbridge Principal Strategies. The company amended the Term Loan to enhance its liquidity position to support both current and anticipated increases in sales volume. Material terms of the amendment include increasing the principal amount by $65M; The additional principal was issued at 95.5%, resulting in approximately $60M of net cash received after fees and expenses, with no modifications to interest rate and maturity; Reducing the minimum cash requirement from $35M to $15M; Adding a separate $15M letter of credit, or LC, commitment by SunTrust Bank, which is expected to reduce the company's current cash collateral requirement for LC's by approximately $13M upon satisfaction of certain post-closing conditions; Increasing the minimum specified collateral value to $225M, contingent upon maintaining certain levels of qualified cash.
News For BLDR From The Last 14 Days
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July 27, 2015
07:11 EDTBLDRBuilders FirstSource files to sell 11M shares of common stock
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July 23, 2015
17:15 EDTBLDRBuilders FirstSource reports Q2 EPS 3c, consensus 6c
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July 13, 2015
09:03 EDTBLDRBuilders FirstSource to consummate acquisition of ProBuild
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