Installed Building Products, Inc. announced that the Company has successfully closed its previously announced new 7-year $500 million term loan (the New Term Loan). The New Term Loan matures on March 28, 2031, has no financial maintenance covenants, and is rated BB+ by S&P Global Ratings and Ba1 by Moody's Investors Service. The pricing of the New Term Loan bears interest at the adjusted term secured overnight financing rate plus 2.00% per annum, or an alternative base rate plus 1.00%.

Net proceeds of the New Term Loan were used to refinance the Company?s prior $490 million Term Loan B facility and pay fees.