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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.
News For BLDR From The Last 14 Days
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November 24, 2015
07:19 EDTBLDRBuilders FirstSource management to meet with BB&T
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November 20, 2015
17:27 EDTBLDRWarburg Pincus Private Equity reports 18.5% stake in Builders FirstSource
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09:10 EDTBLDROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), up 16.3%... Foot Locker (FL), up 4.8%. ALSO HIGHER: Horizon Pharma (HZNP), up 1.6% after withdrawing offer to acquire Depomed (DEPO)... Nike (NKE), up 4.3% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 45.3%... Mentor Graphics (MENT), down 28%. ALSO LOWER: Depomed, down 5.9% after Horizon Pharma withdrew its offer to acquire the company... Builders FirstSource (BLDR), down 3.7% after 7M share Spot Secondary priced at $13.25.
08:22 EDTBLDRBuilders FirstSource 7M share Spot Secondary priced at $13.25
Deutsche Bank acted as sole book running manager for the offering.
November 19, 2015
17:04 EDTBLDRBuilders FirstSource files to sell 7M shares of common stock for holders
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