Davis Polk advised Credit Suisse AG, Cayman Islands Branch as administrative agent and joint lead arranger of a $250 million term loan facility provided to NCI Building Systems, Inc. in connection with its acquisition of Metl-Span LLC. The term loan is secured on a crossing first-lien/second-lien basis with NCI Building System’s existing $150 million asset-based revolving credit facility. Proceeds from the term loan were used to finance acquisition costs.
Based in Houston, Texas, NCI Building Systems, Inc. is one of North America’s largest integrated manufacturers of metal products for the nonresidential building industry. NCI is comprised of a family of companies operating manufacturing facilities across the United States and Mexico, with additional sales and distribution offices throughout the United States and Canada.
Based in Lewisville, Texas, Metl-Span has been a leader in insulated metal panel development for over 40 years and has five manufacturing facilities in the United States serving the nonresidential building products market with energy-efficient and cost-effective insulated metal wall and roof panels. For the year ended December 31, 2011, Metl-Span had estimated revenues of $170 million.
The Davis Polk financing team included partner Joseph P. Hadley, associates Michael J.S. Moran and Russ McCracken and law clerk Benjamin Milder. The tax team included partner Michael Mollerus and law clerk Catherine Paskoff Chang. Associate Jeffrey Meriggi provided real estate advice. Counsel Loyti Cheng and associate Kevin J. Klesh provided environmental advice. Courtney J. Mitchell was the legal assistant on the transaction. Members of the Davis Polk team are based in the New York and Menlo Park offices.
