Business Context and Reporting Period
Company: Builders FirstSource, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 17, 2021
Event: Entry into a Material Definitive Agreement regarding the extension of a revolving credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity positions. It focuses exclusively on debt facility terms.
| Metric | Value |
|---|---|
| Revolving Facility Amount | $1,400.0 million |
| New Maturity Date | December 17, 2026 |
| Administrative Agent | Truist Bank |
| Interest Rate Basis | Eurodollar Rate or Base Rate + Applicable Margin |
| Eurodollar Margin | 1.25% or 1.50% (based on availability) |
| Base Rate Margin | 0.25% or 0.50% (based on availability) |
Material Changes Versus Prior Period
- Maturity Extension: The maturity date of the existing $1,400.0 million revolving facility was extended to December 17, 2026.
- Agreement Amendment: Executed Amendment No. 4 to the ABL Credit Agreement.
- Terms Stability: The filing states that no other material changes were made to the terms of the Previous Revolving Facility.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the continuation of Truist Bank as the administrative and collateral agent. It notes that the company will pay customary commitment fees and letter of credit fees, with commitment fees varying based on utilization measures.
Risks and Contingencies: The filing does not disclose new risks or contingencies beyond the standard terms of the credit agreement. Borrowing availability remains subject to the borrowing base under the New ABL Revolver.
Guidance: No financial guidance or outlook was provided in this filing.
Investor Verification Checklist
- Verify the specific "measure of availability" used to determine the applicable interest rate margin (1.25% vs. 1.50% or 0.25% vs. 0.50%).
- Review Exhibit 10.1 (Amendment No. 4 to Credit Agreement) for detailed covenants and fee structures not summarized in the text.
- Confirm current utilization levels of the $1,400.0 million facility to assess immediate liquidity impact.
- Check subsequent filings for any drawdowns or changes to the borrowing base calculation.