40 84 Lumber Construction Loans Update

1019 route 519 eighty four pa 15330 2813 get directions.
84 lumber construction loans. 84 lumber revealed monday april 21 that it has signed a new five year financing package with suntrust bank and wachovia bank totaling 590 million prosales senior editor andy carlo reports. Building materials supplier 84 lumber has entered a new 7 year 310 million senior secured term b loan and a 5 year 400 million asset based revolving credit facility. My store eighty four store 201. 7 00am 6 00pm tue.
According to company president and owner maggie hardy magerko the move will allow 84 lumber to work through a weak housing market that saw single family housing starts fall 27 last year as the dealer s. 84 lumber is your source for building supplies building materials and all your construction needs. 14 2019 84 lumber company announced the company has entered into a new 7 year 310 million senior secured term loan b facility and 5 year 400 million asset based revolving credit facility. Find a store or request a quote online today.
The proceeds will be used to refinance the 307 5 million outstanding term loan b and 400 million abl revolver. Lentz that the new term loan facility will reduce 84 lumber s future annual cash interest by about 3 million per year. The proceeds will be used to refinance its 307 5 million term loan and 400 million credit revolver according to a news release as a result of the refinancing the dealer has no debt maturities prior to 2024. Founded in 1956 and headquartered in eighty four pennsylvania 84 lumber owns and operates 250 stores component plants door shops installation centers and engineered wood product shops in 30 states.
The loan will be used to refinance existing debt and for working capital purposes.