Beacon Roofing Supply Inc. announced that it has entered into a definitive agreement to purchase Allied Building Products Corp. from current owner CRH PLC for $2.625 billion in cash. Beacon will finance the acquisition with $2.27 billion of new debt, including a new $970 million senior secured term loan facility, $1.3 billion in new senior unsecured notes (issued in the name Beacon Escrow Corp. ), additional borrowings under an upsized $1.3 billion asset-based lending (ABL) revolving credit facility, issuance of approximately $400 million in perpetual convertible preferred equity to affiliates of private equity sponsor Clayton Dubilier&Rice LLC (CD&R), and approximately $345 million of common equity issuance. We expect Beacon's pro forma leverage for the transaction--prior to anticipated synergies
