Beacon Prices $350M Senior Notes Offering


HERNDON, Va.--(BUSINESS WIRE)--Beacon Roofing Supply, Inc. (Nasdaq: BECN)  announced today the pricing of its previously announced private offering of $350.0 million aggregate principal amount of its 4.125% senior unsecured notes due 2029. The initial offering price to investors will be 100.000% of the principal amount thereof. The offering is expected to close on May 10, 2021, subject to customary closing conditions.

Beacon 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 (i) 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 “2025 Notes”), (ii) repay all outstanding borrowings under its existing senior secured term loan “B” facility and (iii) pay all related premiums, accrued interest, fees and expenses in connection with the foregoing. As previously announced, on April 19, 2021, Beacon delivered a notice of conditional redemption to holders of the 2025 Notes stating that the entire principal amount of such notes is expected to be redeemed on May 19, 2021, subject to the satisfaction of certain conditions. Nothing contained in this press release constitutes a notice of redemption of the 2025 Notes.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 90,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN.

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