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BMHC Building Materials

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Share Name Share Symbol Market Type
Building Materials NASDAQ:BMHC NASDAQ Common Stock
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BMHC Announces Expansion of Credit Facility to $850 Million

13/11/2006 11:30am

PR Newswire (US)


Building Materials (NASDAQ:BMHC)
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SAN FRANCISCO, Nov. 13 /PRNewswire-FirstCall/ -- Building Materials Holding Corporation (NASDAQ:BMHC) today announced that it has completed the expansion of its existing senior secured credit facility. The amended and restated facility increases the Company's revolving line of credit from $450 million to $500 million, and extends the facility's maturity one year to 2011. The Company's term loan was expanded from $200 to $350 million and extended by three years to 2013. The amended facility also contains an accordion feature under which the aggregate commitment can be increased by up to $250 million subject to the availability of additional commitments. Wells Fargo Bank and J.P. Morgan Securities acted as Joint Lead Arrangers and Joint Book Managers and Wells Fargo Bank served as Administrative Agent for the transaction. Robert E. Mellor, BMHC's Chairman, President and Chief Executive Officer, stated, "We decided to renew and expand our credit facility given that the bank and institutional lending markets continue to be favorable toward borrowers. Our increased credit facility will provide us with improved financial flexibility as we continue to expand our construction services business, further strengthen our market share, and position BMHC for long-term growth. We continue to maintain a strong capital structure and prudently manage our balance sheet." About BMHC BMHC, a Fortune 1000 company, is one of the largest providers of residential construction services and building materials in the United States. We serve the homebuilding industry through two subsidiaries: SelectBuild provides construction services to high-volume production homebuilders in key growth markets across the country; BMC West distributes building materials and manufactures building components for professional builders and contractors in the western and southern states. BMHC is listed as one of Fortune Magazine's "100 Fastest Growing Companies" in 2006 and was recently named to the Forbes Platinum 400, also known as America's Best Big Companies. To learn more about BMHC, visit our website at http://www.bmhc.com/ . DATASOURCE: Building Materials Holding Corporation CONTACT: Bill Smartt, Senior Vice President and Chief Financial Officer, +1-415-627-9100, or Mark Kailer, Vice President, Treasurer and Investor Relations Officer, +1-415-627-9100, both of Building Materials Holding Corporation Web site: http://www.bmhc.com/

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