GMS Announces Amendment to ABL Credit Agreement
GMS Inc., a North American distributor of gypsum wallboard and suspended ceiling systems, announced an amendment to its ABL Credit Agreement (“ABL”). Under the agreement, the ABL will, among other things, expand to $345 million from $300 million, lower the applicable rate per annum by 0.25 percent, reduce the unused line fees and extend the term until November 2021.
Doug Goforth, CFO of GMS, stated, “We are pleased with the successful extension of our ABL along with the recent refinancing of our first lien debt. With these changes, we have further enhanced our capacity to support our sourcing and integrating of select acquisitions to expand our leadership positions in the U.S.”