Cobb Reporter

BlueLinx issued the following announcement on Oct. 12. 

BlueLinx Holdings Inc. (NYSE: BXC) (the “Company”), a leading U.S. wholesale distributor of building products, announced today that, subject to market and other conditions, the Company intends to offer (the “Offering”) Senior Secured Notes due 2029 generating aggregate gross proceeds of approximately $300 million. The Company’s obligations under the 2029 Notes will be guaranteed by the Company’s domestic subsidiaries that are co-borrowers under or guarantee the Company’s ABL credit facility. The 2029 Notes and the related guarantees will be secured by a first-priority security interest in substantially all of the Company’s and each guarantor’s existing and future assets (other than receivables, inventory, deposit accounts, securities accounts, business interruption insurance and other related assets (the “ABL Collateral”)), subject to certain exceptions and customary permitted liens. The 2029 Notes and the related guarantees will also be secured on a second-priority basis by a lien on the ABL Collateral.

The Offering will be made by means of an offering memorandum to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain persons in offshore transactions pursuant to Regulation S, each under the Securities Act of 1933, as amended (the “Securities Act”). The securities will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Company expects to use the net proceeds from the Offering, along with available cash, to repay borrowings under the Company’s ABL credit facility.

This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities.

Original source can be found here.