Business Context and Reporting Period
Company: Builders FirstSource, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: March 27, 2017
Event Date: March 22, 2017
Context: The Company entered into a material definitive agreement to amend its existing asset-based lending (ABL) credit facility.
Key Financial Metrics
This filing reports on a specific financing agreement and does not contain operational financial metrics such as revenue, profit, cash flow, margins, or liquidity ratios for a reporting period.
| Metric | Value |
|---|---|
| Previous Revolving Facility Commitment | $800.0 million |
| New Revolving Facility Commitment | Up to approximately $900.0 million |
| New Maturity Date | March 22, 2022 |
| Administrative Agent | SunTrust Bank |
Material Changes Versus Prior Period
- Facility Increase: The revolving credit facility commitment was increased from $800.0 million to approximately $900.0 million.
- Maturity Extension: The maturity date of the facility was extended to March 22, 2022.
- Terms: Other material terms of the New ABL Credit Agreement remain unchanged from the prior agreement filed on August 6, 2015.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the execution of Amendment No. 1 to the Credit Agreement. No specific guidance, outlook, or management commentary regarding future business performance is provided in this document.
Risks and Contingencies: The availability of the new $900.0 million facility is subject to the borrowing base under the agreement. The filing does not detail specific risks or contingencies beyond the standard terms of the credit agreement.
Unusual Items: None reported in this filing.
Important Facts for Investor Verification
- Verify the specific calculation methodology for the "borrowing base" that limits the availability of the $900.0 million facility.
- Review the full text of Exhibit 10.1 (Amendment No. 1 to Credit Agreement) for any covenants or conditions not summarized in the 8-K.
- Confirm the current outstanding balance under the facility to assess the actual unused capacity available to the Company.