Marietta-based building products distributor BlueLinx Holdings Inc. announced it has entered into an amendment to its U.S. revolving credit agreement with a syndicate of banks led by Wells Fargo Bank N.A. to improve liquidity and provide up to $20 million for strategic growth plans. The new credit line provides for up to an additional $20 million in borrowing capacity for a period up to 180 days from the effective date. The initial funds drawn at closing of $20 million were used to pay down the existing asset-based revolving credit facility.
Mitch Lewis, president and CEO of BlueLinx said the extended credit line increases the firm’s ability to “capture the broadening opportunities in our end-use markets while we continue to evaluate additional options to enhance our long-term capital structure.”
Further details concerning the amendment are contained in the company’s Current Report on Form 8-K, which has been filed with the Securities and Exchange Commission.