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Stock impact report

Installed Building Products Announces Closing of $500 Million Notes Offering and an Amended and Increased $375 Million ABL Revolving Credit Facility

Installed Building Products, Inc. (IBP) 
Last installed building products, inc. earnings: 2/27 07:00 am Check Earnings Report
Company Research Source: Business Wire
COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the closing of the private offering of $500 million in aggregate principal amount of 5.625% senior unsecured notes due 2034 (the “2034 Notes”).In addition, the Company amended its existing $250 million asset-based lending revolving credit facility (“ABL Revolver”) to, among other things, increase the commitments thereunder to $375 million and extend the maturity date to January 21, 2031. The ABL Revolver is currently undrawn. Bank of America, N.A. served as a Joint-Lead Arranger and a Joint-Lead Bookrunner and the Issuing Bank, Swing Bank, and Administrative Agent, JPMorgan Chase Bank, N.A., RBC Capital Markets and KeyBank National Association, each served as a Joint-Lead Arranger and a Joint-Book Runner, and U.S. Bank National Association served as the Syndication Agent.The net pro Show less Read more
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