The facility is made up of a $300 million term loan and a $450 million revolving credit facility. The facility replaces the company’s previous $300 million term loan and $250 million revolver and extended the maturity date by three years to March 2025.
“We are very pleased to have successfully increased our term loan and revolving credit facilities by a total of $150 million with a maturity extension of three years,” Jerry Volas, CEO of TopBuild, said. “As a result of the company’s solid financial position, demand to participate in this refinancing was strong and two banks were added to the syndicate. Looking ahead, we believe that the additional liquidity strengthens our ability to capitalize on strategic acquisitions and other opportunities designed to enhance long term value for our stakeholders.”
TopBuild is an installer and distributor of insulation and building material products in the United States.