Beacon prices note offering

Beacon reported that it is offering $350 million in 4.125% senior unsecured notes due in 2029.

The offering is expected to close on May 10 subject to customary closing conditions.

Beacon said that it intends to use the net proceeds from the offering, together with cash on hand and available borrowings under its proposed new amended and restated senior secured credit facilities, to redeem, repay, retire and discharge in full all $1.3 billion aggregate principal amount outstanding of its 4.875% senior unsecured notes due 2025.

The Herndon, Va.-based roofing materials and building products distributor also said it will use proceeds to repay all outstanding borrowings under its existing senior secured term loan “B” facility and pay all related premiums, accrued interest, fees and expenses in connection with the loan. 

The company operates more than 400 branches in all 50 states and 6 Canadian provinces.