BlueLinx Holdings Inc. Completes Offering of 6.00% Senior Secured Notes due 2029
October 25, 2021 at 05:16 pm EDT
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BlueLinx Holdings Inc. announced that the company has completed its previously announced offering of $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 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 revolving 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, 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.
BlueLinx Holdings, Inc. is a wholesale distributor of residential and commercial building products in the United States. The Company provides both branded and private-label stock keeping units (SKUs) across product categories, such as lumber, panels, engineered wood, siding, millwork, and industrial products. The Company distributes its products in two principal categories: specialty products and structural products. Its specialty products include items such as engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products. Structural products include items such as lumber, plywood, oriented strand board, rebar, and remesh and other wood products primarily used for structural support in construction projects. The Company also offers a range of value-added services and solutions to its customers and suppliers, including inventory stocking; intermodal distribution services; milling and fabrication services, and backhaul services.