Heller Financial has wrapped syndication of its $150 million asset-based credit for Somerville, Mass.-based Beacon Roofing Supply. CIT Group, GMAC, Wachovia Bank and Fleet Capital were among the nine lenders on the deal, which was sponsored by investment firm Code, Hennessy & Simmons, according to a banker familiar with the deal. David Grace, cfo of the company, confirmed that syndication closed on June 8, but referred further calls to officials at Heller.
The loan comprises a $124.5 million revolver priced at LIBOR plus 2 3/4 %, a $15 million term loan "A" at LIBOR plus 3% and a $10.5 million term loan "B"at LIBOR plus 33/ 4%. The deal finances the acquisition of Gaithersburg, Md.-based The Roof Center and its subsidiary, Houston-based West End Lumber.