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BXC > SEC Filings for BXC > Form 8-K on 28-Jun-2013All Recent SEC Filings

Show all filings for BLUELINX HOLDINGS INC.



Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement

On June 28, 2013, BlueLinx Corporation (the "Operating Company"), a wholly-owned subsidiary of BlueLinx Holdings Inc. ("BlueLinx"), entered into a joinder agreement (the "Joinder Agreement") with PNC Bank, National Association ("PNC") and reached an agreement (the "Sixth Amendment") with Wells Fargo Bank, National Association, successor by merger to Wachovia Bank, National Association ("Wells Fargo") and the other signatories thereto to amend the terms of its existing Amended and Restated Loan and Security Agreement, dated August 4, 2006, as amended (the "Credit Agreement"). Pursuant to the Joinder Agreement, PNC will become a lender under the Credit Agreement and will provide a loan commitment in the amount of $25 million. The Sixth Amendment modifies the Credit Agreement as follows:

(a) increases the maximum availability from $422.5 million to $447.5 million;

(b) revises the excess liquidity we are required to maintain in order to avoid being required to meet certain financial ratios and triggering additional limits on capital expenditures under the Credit Agreement to the greater of
(i) $31,775,148 or (ii) the amount equal to 12.5% of the lesser of (A) our borrowing base or (B) $447.5 million; and

(c) the remainder of the amount available under the uncommitted accordion credit facility decreases by the amount of the $25 million commitment to $75 million, which would permit the Operating Company to increase the maximum borrowing capacity up to $522.5 million.

Except as described above, all other material terms of the Credit Agreement remain substantially the same. The foregoing descriptions of the Joinder Agreement and Sixth Amendment are qualified in their entirety by reference to the Joinder Agreement and Sixth Amendment, which are attached hereto as Exhibits 10.1 and 10.2 and are incorporated herein by reference.

Item 9.01        Financial Statements and Exhibits

(d)      Exhibits

Exhibit No.      Description
10.1             The Sixth Amendment, dated June 28, 2013, to the Amended and Restated
                 Loan and Security Agreement, dated August 4, 2006, as amended, by and
                 between the Operating Company, Wells Fargo and the other signatories
                 listed therein.
10.2             Lender Joinder Agreement, dated as of June 28, 2013, by and between PNC
                 Bank, National Association and the Operating Company.
99.1             Press release, dated June 28, 2013.

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