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Installed Building Products Repurchases $52 million in Shares and Successfully Reprices $500 million Term Loan

Nov 26, 2024•over 1 year ago

Contract Type

contract

ColumbusReal EstateBuilding Material

Description

Installed Building Products, Inc. (NYSE: IBP) has announced the successful repricing of its $500 million term loan, resulting in estimated cash interest expense savings of over $1 million annually. Additionally, during November, the company repurchased 250 thousand shares of its common stock at a total cost of approximately $52 million, including commissions.

Company Information

Company

Installed Building Products

Location

Columbus, Ohio, United States

About

Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects from its national network of over 190 branch locations.

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