PNC Joins Wells, Others in BlueLinx Facility Amendment
BlueLinx Holdings announced that it entered into an amendment to its U.S. revolving credit agreement that increases the amount of its credit facility to $447.5 million from $422.5 million.
Under terms of the agreement, PNC Bank joins the syndicate of existing lenders and will provide a loan commitment in the amount of $25 million, utilizing $25 million of the company’s $100 million uncommitted accordion credit facility. All other material terms of the credit agreement remain substantially the same.
The existing lenders are: Wells Fargo Bank, administrative and collateral agent; Regions Bank; Bank of America; JP Morgan Chase; and TD Bank.
“We welcome our new lender and are appreciative of the ongoing support of our existing lenders,” said Doug Goforth, BlueLinx’ chief financial officer and treasurer. “Given this support, BlueLinx can continue with its focus on strengthening our business.”
Headquartered in Atlanta, GA, BlueLinx Holdings, operating through its wholly owned subsidiary BlueLinx Corporation, is a distributor of building products in North America.