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Stock Market & Financial Investment News

News Breaks
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.
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July 25, 2014
11:48 EDTBLDRBuilders FirstSource says will continue to seek acquisitions
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July 24, 2014
17:09 EDTBLDRBuilders FirstSource reports Q2 adjusted EPS 5c, consensus 12c
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