BlueLinx Announces Full Repayment of Term Loan

Rhea-AI Summary

BlueLinx Holdings (NYSE: BXC) has successfully repaid approximately $16 million of its term loan facility as of April 2, 2021, utilizing funds from its revolving credit facility. This repayment aims to lower cash interest expenses and streamline the company’s capital structure. CFO Kelly Janzen highlighted the firm’s focus on deleveraging while maintaining liquidity for growth, reflecting confidence in the strength of its end-markets and efficient working capital management. BlueLinx operates across 40 states, distributing building products to over 15,000 clients.

Positive

• Repayment of $16 million in term loan reduces cash interest expense.
• Simplification of capital structure enhances financial stability.
• Continued focus on deleveraging supports future growth.

Negative

• None.

MARIETTA, Ga., April 05, 2021 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States, today announced that the Company repaid the outstanding principal balance under its term loan facility of approximately $16 million on April 2, 2021. The payment was funded through existing availability under the Company’s revolving credit facility.

“Our voluntary repayment of the term loan reduces cash interest expense and further simplifies our capital structure, which is consistent with our disciplined approach to managing our balance sheet,” stated Kelly Janzen, CFO of BlueLinx. “Given the continued, underlying strength of our end-markets and strategic approach to managing working capital, we remain focused on deleveraging, while maintaining ample liquidity to support our profitable growth objectives.”

ABOUT BLUELINX HOLDINGS

BlueLinx (NYSE: BXC) is a leading U.S. wholesale distributor of residential and commercial building products with both branded and private-label SKUs across product categories such as lumber, panels, engineered wood, siding, millwork, metal building products, and other construction materials. With a strong market position, broad geographic coverage footprint servicing 40 states, and the strength of a locally focused sales force, we distribute our comprehensive range of products to over 15,000 national, regional, and local dealers, specialty distributors, national home centers, and manufactured housing customers. BlueLinx is able to provide a wide range of value-added services and solutions to our customers and suppliers. We are headquartered in Georgia, with executive offices located at 1950 Spectrum Circle, Marietta, Georgia, and we operate our distribution business through a broad network of distribution centers. BlueLinx encourages investors to visit its website, www.BlueLinxCo.com, which is updated regularly with financial and other important information about BlueLinx.

Contacts

Mary Moll, Investor Relations
(866) 671-5138
investor@bluelinxco.com

FAQ

What recent financial move did BlueLinx Holdings make?

BlueLinx Holdings repaid approximately $16 million of its term loan facility on April 2, 2021.

How did BlueLinx fund its term loan repayment?

The repayment was funded through existing availability under the company's revolving credit facility.

What is the significance of BlueLinx's term loan repayment?

It reduces cash interest expenses and simplifies the capital structure.

What geographic areas does BlueLinx serve?

BlueLinx operates in 40 states across the United States.

How many clients does BlueLinx distribute to?

BlueLinx distributes to over 15,000 national, regional, and local dealers.