Building and industrial products distributor BlueLinx announced it has repaid the outstanding principal balance under its term loan facility of approximately $16 million. The payment was funded through existing availability under the company’s revolving credit facility, according to a news release.
“Our voluntary repayment of the term loan reduced cash interest expense and further simplifies our capital structure, which is consistent with our disciplined approach to managing our balance sheet,” Kelly Janzen, CFO of BlueLinx, said in a prepared statement. “Given the continued, underlying strength of our end-markets and strategic approach to managing working capital, we remain focused on deleveraging, while maintaining ample liquidity to support our profitable growth objectives.”
Marietta, Ga.-based BlueLinx distributes a comprehensive range of products to more than 15,000 national, regional, and local dealers, specialty distributors, national home centers, and manufactured housing customers.
