BMCH - BMC Stock Holdings Inc. Increases and Extends Its Senior Secured Credit Agreement
RALEIGH, N.C., June 03, 2019 (GLOBE NEWSWIRE) -- BMC Stock Holdings, Inc. (Nasdaq: BMCH) (“BMC” or the “Company”), one of the leading providers of diversified building products, services and innovative solutions in the U.S. residential construction market, today announced that it has increased its senior secured credit agreement, which includes a revolving line of credit, (its “Credit Agreement”) from $375 million to $425 million and extended the maturity from December 1, 2020 to May 31, 2024. The Credit Agreement is led by Wells Fargo Capital Finance. Other participating banks include Bank of America N.A., Goldman Sachs Bank USA, Royal Bank of Canada and SunTrust Bank.
“We are pleased to unlock additional liquidity to fund strategic growth opportunities through the increased commitments under this facility,” said Jim Major, Executive Vice President, Chief Financial Officer and Treasurer of BMC. “With this enhanced availability, extended maturity and our low leverage, we are even better positioned to execute on our strategic priorities, which include investments in value-added products and services, manufacturing automation and acquisitions. We appreciate the support of our bank group in expanding our available sources of financing.”
About BMC Stock Holdings, Inc.
With $3.7 billion in 2018 net sales, BMC is a leading provider of diversified building products, services and innovative solutions to builders, contractors and professional remodelers in the U.S. residential housing market. Headquartered in Raleigh, North Carolina, the Company’s comprehensive portfolio of products and solutions spans building materials, including millwork and structural component manufacturing capabilities, consultative showrooms and design centers, value-added installation management services and an innovative eBusiness platform. BMC serves 45 metropolitan areas across 19 states, principally in the South and West regions.
Investor Relations Contact
BMC Stock Holdings, Inc.
Carey Phelps
(678) 222-1228