Installed Building Products Plans To Raise $500M In New Term Loan Facility

by Akanksha Bakshi, Benzinga Editor
November 30, 2021 2:05 PM | 1 min read |
  • Installed Building Products Inc IBP intends to raise a new 7-year $500 million Term Loan due 2028.
  • The company plans to use the net proceeds of the New Term Loan to refinance its existing $200 million Term Loan B facility due April 2025 and for acquisitions, other growth initiatives, and general corporate purposes.
  • The terms of any New Term Loan will be disclosed upon transaction completion, which is expected by the end of December 2021.
  • Price Action: IBP shares are trading lower by 2.16% at $128.72 on the last check Tuesday.
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