Interline Brands Inc (IBI) sold $300 mln in senior subordinated notes

Posted: 11:14 am, November 4, 2010 by Irina Waqar

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.

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Posted in: INNOVATION

Tags: Barclays PLC,Florida,IBI,Interline Brands Inc,JP Morgan,JPMorgan Chase & Co,maintenance,Product lifecycle management

About the author: Irina Waqar

News Editor, has years’ of experience in professional investment research and portfolio management. Her entire career has been spent in industry within the finance and accounting realm. She is a successful journalist and a naturally curious mind has an ability to get the story first and get it right with passion for the work with a solid work ethic.

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