Installed Building Products completed the repricing of its existing $200 million term loan B facility.
The $200 million term loan B facility matures on April 15, 2025, has no financial maintenance covenants, and is rated BB+ by S&P Global Ratings and Ba3 by Moody’s Investors Service. The pricing has been reduced by 25 basis points to LIBOR plus 225 basis points with a LIBOR floor of zero percent.
Bank of America served as term administrative agent and BofA Securities, served as sole lead arranger and sole bookrunning manager for the repricing of the term loan B facility.
Installed Building Products is one of the nation’s largest new residential insulation installers and is a diversified installer of complementary building products.
