Installed Building Products Inc., a Columbus-based installer of insulation and complementary building products, has launched an offering of $300 million in senior unsecured notes due 2028. IBP intends to use the net proceeds from the notes to repay a portion of the current borrowings under its Term Loan B credit facility, and for other general corporate purposes.
The offering is subject to market and other conditions.
The notes are being offered only to qualified institutional buyers and to certain persons outside of the United States. The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the U.S. absent registration or an applicable exemption.
Through a national network of more than 175 branch locations, Installed Building Products is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States.
