BMHC Announces Expansion of Credit Facility to $850 Million
13 11월 2006 - 8:30PM
PR Newswire (US)
SAN FRANCISCO, Nov. 13 /PRNewswire-FirstCall/ -- Building Materials
Holding Corporation (NASDAQ:BMHC) today announced that it has
completed the expansion of its existing senior secured credit
facility. The amended and restated facility increases the Company's
revolving line of credit from $450 million to $500 million, and
extends the facility's maturity one year to 2011. The Company's
term loan was expanded from $200 to $350 million and extended by
three years to 2013. The amended facility also contains an
accordion feature under which the aggregate commitment can be
increased by up to $250 million subject to the availability of
additional commitments. Wells Fargo Bank and J.P. Morgan Securities
acted as Joint Lead Arrangers and Joint Book Managers and Wells
Fargo Bank served as Administrative Agent for the transaction.
Robert E. Mellor, BMHC's Chairman, President and Chief Executive
Officer, stated, "We decided to renew and expand our credit
facility given that the bank and institutional lending markets
continue to be favorable toward borrowers. Our increased credit
facility will provide us with improved financial flexibility as we
continue to expand our construction services business, further
strengthen our market share, and position BMHC for long-term
growth. We continue to maintain a strong capital structure and
prudently manage our balance sheet." About BMHC BMHC, a Fortune
1000 company, is one of the largest providers of residential
construction services and building materials in the United States.
We serve the homebuilding industry through two subsidiaries:
SelectBuild provides construction services to high-volume
production homebuilders in key growth markets across the country;
BMC West distributes building materials and manufactures building
components for professional builders and contractors in the western
and southern states. BMHC is listed as one of Fortune Magazine's
"100 Fastest Growing Companies" in 2006 and was recently named to
the Forbes Platinum 400, also known as America's Best Big
Companies. To learn more about BMHC, visit our website at
http://www.bmhc.com/ . DATASOURCE: Building Materials Holding
Corporation CONTACT: Bill Smartt, Senior Vice President and Chief
Financial Officer, +1-415-627-9100, or Mark Kailer, Vice President,
Treasurer and Investor Relations Officer, +1-415-627-9100, both of
Building Materials Holding Corporation Web site:
http://www.bmhc.com/
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