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This excerpt taken from the BLDR 10-K filed Mar 13, 2006. Refinancing
On February 11, 2005, we entered into a $350.0 million
senior secured credit facility with a syndicate of banks
(“2005 Agreement”). The credit facility was initially
comprised of a $225.0 million
six-and-a-half
year term loan, a $110.0 million five-year revolver, and a
$15.0 million pre-funded letter of credit facility to be
available at any time during the
six-and-a-half
year term. In addition, on February 11, 2005, we issued
$275.0 million aggregate principal amount of second
priority senior secured floating rate notes due in 2012. With
the proceeds of these transactions, we repaid existing
indebtedness and paid a $201.2 million, or $8.00 per
share, dividend to stockholders, a $36.4 million payment
(including applicable payroll taxes of $0.6 million) to
stock option holders, and expenses related to the refinancing.
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