FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Wells Fargo, GMS Increase Asset-Based Credit Agreement to $345MM

November 23, 2016, 07:38 AM
Filed Under: Distribution

GMS Inc., a leading North American distributor of gypsum wallboard and suspended ceiling systems, announced an amendment to its ABL Credit Agreement (“ABL”). Under the agreement, the ABL will, among other things, expand to $345 million from $300 million, lower the applicable rate per annum by 0.25%, reduce the unused line fees and extend the term until November 2021. According on an 8-K SEC filing, Wells Fargo is the adminstrative agent on the facility.

Doug Goforth, Chief Financial Officer of GMS, stated, “We are pleased with the successful extension of our ABL along with the recent refinancing of our first lien debt. With these changes, we have further enhanced our capacity to support our sourcing and integrating of select acquisitions to expand our leadership positions in the U.S.”

Founded in 1971, GMS operates a network of more than 200 distribution centers across the United States. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary interior construction products is designed to provide a comprehensive one-stop-shop for our core customer, the interior contractor who installs these products in commercial and residential buildings.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.