BMC Announces Closing of $250 Million Senior Secured Notes Offering

BOISE, Idaho, Sept. 23, 2013 /PRNewswire/ -- BMC, one of the nation's leading providers of building materials and construction services, today announced the closing of its $250 million aggregate principal amount private offering of Senior Secured Notes due 2018 ("Senior Secured Notes").  The Senior Secured Notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The transaction closed on September 20, 2013.

BMC used the net proceeds of the Senior Secured Notes offering to refinance its term loan, pay down its asset-based lending revolver, and pay related fees and expenses.  BMC intends to use the remainder of the net proceeds for general corporate purposes.

"We are pleased with the positive response we received with respect to this offering and the ongoing support of all of our stakeholders," said Peter Alexander, chief executive officer of BMC. "BMC continues to benefit from the improving housing market recovery, and I believe this offering will better position the Company for success by strengthening our balance sheet.  We believe our reliable service and leading products resonate with customers, and our team continues to pursue profitable growth by expanding our products and offerings, and penetrating customers and markets.  All of us at BMC remain committed to delivering what our customers need, when they need it, and how they want it."

The Senior Secured Notes have not been and will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration under, or an exemption from, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell nor is it a solicitation of an offer to buy any securities, nor will there be any sale of such security in any jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About BMC
BMC, headquartered in Boise, Idaho, is a leading provider of residential building products and construction services to professional builders and contractors.  BMC distributes lumber and other building materials and provides customized millwork solutions and installation, as well as targeted construction services in connection with these offerings, through an integrated network of 29 lumber yards, 15 truss manufacturing facilities and 24 millwork operations strategically located in attractive markets in the Western United States, Texas and North Carolina, ten of which are in the top 25 single-family construction markets. HCN (formerly Home Channel News) named BMC as its Pro Dealer of the Year for 2012.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the Company's anticipated growth, profitability and expansion plans, as well as other statements containing the words "believes," "intends," "plans," "will," or "expects" and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, including market conditions, variability of operating results, competition and many other factors similar to those of other companies in this industry, which may cause the actual results to differ materially from those expressed or implied by such forward-looking statements.

Contact

Peter Alexander
Chief Executive Officer
(208) 331-4383
[email protected] 

SOURCE BMC

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