Installed Building Products Inc., installer of insulation products that is headquartered in Columbus, has completed the repricing of its existing $200 million term loan B facility.
The $200 million term loan B facility matures on April 15, 2025, has no financial maintenance covenants, and is rated BB+ by S&P Global Ratings and Ba3 by Moody’s Investors Service. The pricing has been reduced by 25 basis points to LIBOR plus 225 basis points with a LIBOR floor of 0 percent.
Bank of America N.A. served as term administrative agent and BofA Securities Inc. served as sole lead arranger and sole bookrunning manager for the repricing of the facility.