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Beacon Roofing Supply Closes $565 Mln Credit Facility - Quick Facts

Beacon Roofing Supply Inc. (BECN) announced that it has entered into a new, five-year senior secured credit facility consisting of a $550 million U.S. credit facility and a C$15 million Canadian credit facility with Wells Fargo Bank, National Association, as administrative agent and as a lender, and other lenders.

The Credit Facility refinanced the Company's prior combined $515 million credit facilities that were provided through GE Antares and an affiliate.

Borrowings under the Credit Facility bear interest at a rate equal to LIBOR plus a margin. Such margin is initially 1.75% per annum, and can range from 1.50% to 2.50% per annum depending upon the Company's Total Leverage Ratio. Financial covenants are comprised of a maximum total leverage ratio and a minimum interest coverage ratio.

by RTT Staff Writer

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