GMS Announces Amendment to ABL Credit Agreement
22 November 2016 - 8:15AM
Business Wire
GMS Inc. (NYSE:GMS), a leading North American distributor of
gypsum wallboard and suspended ceiling systems, announced today an
amendment to its ABL Credit Agreement (“ABL”). Under the agreement,
the ABL will, among other things, expand to $345 million from $300
million, lower the applicable rate per annum by 0.25%, reduce the
unused line fees and extend the term until November 2021.
Doug Goforth, Chief Financial Officer of GMS, stated, “We are
pleased with the successful extension of our ABL along with the
recent refinancing of our first lien debt. With these changes, we
have further enhanced our capacity to support our sourcing and
integrating of select acquisitions to expand our leadership
positions in the U.S.”
About GMS:
Founded in 1971, GMS operates a network of more than 200
distribution centers across the United States. GMS’s extensive
product offering of wallboard, suspended ceilings systems, or
ceilings, and complementary interior construction products is
designed to provide a comprehensive one-stop-shop for our core
customer, the interior contractor who installs these products in
commercial and residential buildings.
For more information about GMS, please visit www.gms.com.
Forward‐Looking Statements and Information:
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. You can generally identify forward-looking statements by our
use of forward-looking terminology such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may,"
"might," "plan," "potential," "predict," "seek," or "should," or
the negative thereof or other variations thereon or comparable
terminology. We have based these forward-looking statements on our
current expectations, assumptions, estimates and projections. While
we believe these expectations, assumptions, estimates and
projections are reasonable, such forward-looking statements are
only predictions and involve known and unknown risks and
uncertainties, many of which are beyond our control.
Forward-looking statements involve risks and uncertainties,
including, but not limited to, economic, competitive, governmental
and technological factors outside of our control, that may cause
our business, strategy or actual results to differ materially from
the forward-looking statements. These risks and uncertainties may
include, among other things: changes in the prices, supply, and/or
demand for products which we distribute; general economic and
business conditions in the United States; the activities of
competitors; changes in significant operating expenses; changes in
the availability of capital and interest rates; adverse weather
patterns or conditions; acts of cyber intrusion; variations in the
performance of the financial markets, including the credit markets;
and other factors described in the "Risk Factors" section in our
filings with the SEC. We undertake no obligation to update any of
the forward looking statements made herein, whether as a result of
new information, future events, changes in expectation or
otherwise.
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GMS Inc.Investor Relations:678-353-2883ir@gms.comorMedia
Relations:770-723-3378marketing@gms.com
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