McDermott Advises American Builders & Contractors Supply Co., Inc. on $600 Million High Yield Bond Offering and Cash Tender Offer for 5.625% Senior Notes Due 2021

Overview


CHICAGO — International law firm McDermott Will & Emery advised American Builders & Contractors Supply Co., Inc. (“ABC Supply”) on its offering of senior notes and cash tender offer for all of its outstanding 5.625 percent senior notes due 2021, transactions that closed on May 11, 2018.

ABC Supply is a privately held company headquartered in Beloit, Wisconsin. The company is the largest wholesale distributor of roofing in the United States and one of the nation’s largest distributors of siding, windows and other select exterior building products.

The offering, completed via Deutsche Bank Securities, Bank of America Merrill Lynch and RBC Capital Markets, closed for senior notes that will mature on May 15, 2026. Proceeds from the transaction will be used to repay existing debt, including ABC Supply’s 5.625 percent senior notes due 2021 that were validly tendered (and not validly withdrawn) in the cash tender offer that ABC Supply commenced simultaneously.

A cross-practice McDermott team advised the issuer on its private offering of $600 million in aggregate principal amount of 5.875 percent senior notes due 2026. The senior notes were issued at par and guaranteed on a senior unsecured basis by the issuer’s parent and its existing and future subsidiaries that guarantee the issuer’s senior secured credit facilities.

“We are proud to have advised ABC Supply on these significant financing transactions,” said Stephanie McCann, partner in McDermott’s Corporate Advisory Group and lead lawyer on the deal. “Drawing on our deep knowledge of the financial markets and working across practices, we were able to guide ABC Supply through these transactions and close a sophisticated deal to bolster the company’s financial future.”

In addition to McCann, members of the McDermott deal team included Corporate partners Heidi Steele, Anh Lee and George Houhanisin and associate Leah Patterson.

McDermott’s Corporate Advisory Practice Group represents a wide spectrum of business interests around the world, from global corporations and industry-leading companies to privately funded and entrepreneurial driven enterprises, as well as the financial institutions that support them. Acting as strategic partners for our clients, McDermott attorneys advise on a full range of corporate needs—strategizing on corporate growth plans and the subsequent need to access the capital markets or via acquisition through either the private and public markets or the bankruptcy courts.

About McDermott


McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.