Interline Brands Inc (IBI), a leading distributor and direct marketer of maintenance, repair and operations (“MRO”) products, $300 million of senior subordinated notes in the 144a private placement market. Barclays and JP Morgan were the joint bookrunning managers for the sale.
Earlier, Interline plans to sell $275 million of eight-year senior subordinated notes, the size of the deal was increased from an originally planned $275 million to $300 million. The notes will be fully and unconditionally guaranteed by Interline and its domestic subsidiaries.
Interline Brands, Inc. is a leading distributor and direct marketer with headquarters in Jacksonville, Florida. Interline provides maintenance, repair and operations products to a diversified customer base made up of facilities maintenance professionals, professional contractors, and specialty distributors primarily throughout North America, Central America and the Caribbean.
Proceeds from Interline’s debt offering will be used to repay a credit line and tender for outstanding 8.125 percent notes maturing in 2014.