Investors have received allocations of Installed Building Products Inc.’s $500 million term loan B due 2028 that priced at the tight end of talk at L+225, with a 0.50 percent Libor floor and an issue price of 99.5 via an RBC Capital Markets-led arranger group, according to sources.
Proceeds will be used to refinance the company's existing $200 million TLB due April 2025 (L+225, 0 percent floor) and to provide funds for acquisitions, other growth initiatives and general corporate purposes.
Installed Building Products is an insulation installer for the residential new construction market and a diversified installer of complementary building products.
