BlueLinx Holdings, a leading distributor of building products in North America, announced that its indirect subsidiary BlueLinx Building Products Canada has entered into a revolving credit agreement with CIBC Asset-Based Lending. The new credit facility provides for borrowing capacity of up to $10 million and has a term of three years, maturing on Aug. 12, 2014.
In addition, the credit facility provides for an additional $5 million uncommitted accordion credit facility, which would permit the company to increase the maximum amount of borrowing capacity up to $15 million.
"We are pleased to secure this new revolving credit facility with CIBC," said Doug Goforth, BlueLinx chief financial officer and treasurer. "The availability of this new credit facility provides us additional financial flexibility to execute our growth plans in Canada at attractive rates and enhances our liquidity position."
Headquartered in Atlanta, BlueLinx Holdings serves approximately 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers. The company operates its distribution business from sales centers in Atlanta and Denver, and its network of 60 distribution centers.