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OFFON

BLUELINX HOLDINGS INC.

(BXC)
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BlueLinx Holdings Inc. Announces Pricing of Private Offering of Senior Secured Notes

10/18/2021 | 05:44pm EST

BlueLinx Holdings Inc. announced that the Company has agreed to sell $300 million aggregate principal amount of its 6.00% Senior Secured Notes due 2029 in a private offering to persons reasonably believed to be “qualified institutional buyers,” as defined in Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The 2029 Notes were priced to investors at 98.625% of their principal amount and will mature on November 15, 2029. The Company’s obligations under the 2029 Notes will be guaranteed by the Company’s domestic subsidiaries that are co-borrowers under or guarantee the Company’s ABL credit facility. The 2029 Notes and the related guarantees will be secured by a first-priority security interest in substantially all of the Company’s and each guarantor’s existing and future assets (other than receivables, inventory, deposit accounts, securities accounts, business interruption insurance and other related assets (the “ABL Collateral”)), subject to certain exceptions and customary permitted liens. The 2029 Notes and the related guarantees will also be secured on a second-priority basis by a lien on the ABL Collateral. The net proceeds from the offering of the 2029 Notes will be used to repay borrowings under the Company’s ABL credit facility. The offering of the Notes is expected to close on October 25, 2021, subject to the satisfaction or waiver of customary closing conditions. The Notes will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.


© S&P Capital IQ 2021
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Financials (USD)
Sales 2021 4 122 M - -
Net income 2021 257 M - -
Net Debt 2021 - - -
P/E ratio 2021 2,69x
Yield 2021 -
Capitalization 681 M 681 M -
Capi. / Sales 2021 0,17x
Capi. / Sales 2022 0,19x
Nbr of Employees 2 090
Free-Float 95,9%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 70,11 $
Average target price 96,33 $
Spread / Average Target 37,4%
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Managers and Directors
Dwight A. K. Gibson President & Chief Executive Officer
Kelly C. Janzen Chief Financial Officer, Treasurer & Senior VP
Kim S. Fennebresque Non-Executive Chairman
Shyam K. Reddy Co-Secretary, Chief Administrative Officer & SVP
Dominic DiNapoli Independent Director
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