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BlueLinx Announces Completion of Sale-Leaseback Transaction and Amendment to Term Loan

General News

BlueLinx Holdings Inc. (the “Company”), a leading distributor of building and industrial products in the United States, announced that it has completed a sale-leaseback transaction for its distribution facilities in Elkhart, Indiana, for net cash proceeds of $7.5 million.  The transaction closed on February 28, 2020, and as a part of the transaction, the Company entered into a lease agreement for the property for an initial term of 15 years, with multiple renewal options, demonstrating its long-term commitment to this local market.

Net proceeds from the sale-leaseback transaction were used to repay indebtedness under the Company’s term loan.  Following this repayment, the balance of the Company’s term loan was approximately $77.4 million.

The Company utilized its continuing principal reduction to enter into an amendment to its term loan facility on February 28, 2020, pursuant to which the Company will no longer be subject to the quarterly total net leverage ratio covenant when the principal balance of the term loan is less than $45 million.  The amendment does not create an obligation or requirement to make payments or reduce the principal balance, and did not require the payment of an amendment fee.

The Company will provide an update on these transactions and its continuing strategy to delever during its upcoming earnings call at 10:00 a.m. Eastern on March 11, 2020.

About BlueLinx Holdings Inc.

BlueLinx (NYSE: BXC) is a leading wholesale distributor of building and industrial products in the United States with over 50,000 branded and private-label SKUs, and a broad distribution footprint servicing 40 states. BlueLinx has a differentiated distribution platform, value-driven business model and extensive cache of products across the building products industry. Headquartered in Marietta, Georgia, BlueLinx has over 2,200 associates and distributes its comprehensive range of structural and specialty products to approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers. BlueLinx encourages investors to visit its website,, which is updated regularly with financial and other important information about BlueLinx.


Mary Moll – Investor Relations – (866) 671-5138 –

Source: BlueLinx Holdings, Inc.