Truist Bank increased Builders FirstSource’s revolving credit facility from $900 million to $1.4 billon and extended the maturity date by 26 months. Truist Bank is serving as administrative agent for the facility.
Builders FirstSource is a Dallas-based supplier of building products for residential construction, repair and remodeling.
The credit facility will be available for working capital needs, general corporate purposes and growth initiatives. Currently, there are no borrowings outstanding on the credit facility.
Separately, on Feb. 1, Moody’s Investors Service upgraded Builders FirstSource’s Corporate Family Rating two notches to Ba2 from B1.
“The increase and extension of this facility provides us with an improved capital base that better represents our larger reach and scale following the recent completion of our merger with BMC Stock Holdings,” Peter Jackson, CFO of Builders FirstSource, said. “In addition, the recent double-notch upgrade to our credit rating from Moody’s further highlights the enhanced strength of our cash generation and balance sheet following our combination with BMC.”
