logo
Share SHARE
FONT-SIZE Plus   Neg

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dutch semiconductor equipment maker ASML Holding NV reported Wednesday higher profit in its third quarter as sales were boosted mainly with strong demand for DUV Systems. Meanwhile, margin declined. Looking ahead, the company projects sequentially lower sales in its fourth quarter. For fiscal 2017, the company maintained forecast for higher sales. Leaders of the Senate Health Committee revealed Tuesday they have reached an agreement on legislation to provide short-term stability to Obamacare. Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced the bipartisan agreement. Activist investor Rudolf Bohli is reportedly targeting Switzerland's second largest bank Credit Suisse. Bloomberg reported that Bohli has 0.2 percent stake in Credit Suisse that comes around 100 million francs or around $102 million.
comments powered by Disqus
Follow RTT