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BXC > SEC Filings for BXC > Form 8-K on 17-Mar-2014All Recent SEC Filings

Show all filings for BLUELINX HOLDINGS INC.



Entry into a Material Definitive Agreement, Financial Statements and Exhib

Item 1.01 Entry into a Material Definitive Agreement

On March 14, 2014, BlueLinx Corporation (the "Operating Company"), a wholly-owned subsidiary of BlueLinx Holdings Inc. (the "Registrant"), reached an agreement (the "Seventh 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"). The Seventh Amendment modifies the Agreement as follows:

(a) increases the maximum availability by $20 million, from $447.5 million to $467.5 million, for a period of 180 days from the effective date;

(b) increases the advance rates of eligible accounts receivables and eligible inventory components by 5% each;

(c) sets interest rates regarding the $20 million increase at prime plus 3.75% or LIBOR plus 5.25%, depending on loan type; and

(d) changes the excess liquidity the Operating Company is required to maintain to the greater of (a) during the time the $20 million increase is outstanding, $33,195,266, and at all times thereafter, $31,775,148 or (b) the amount equal to twelve and one-half (12.5%) percent of the lesser of (i) the sum of (A) the borrowing base and (B) the borrowing base for the $20 million increase or (ii) $467.5 million, and at all times thereafter, the amount equal to twelve and one-half (12.5%) percent of the lesser of (A) the borrowing base or (ii) $447.5 million.

Except as described above, all other material terms of the Credit Agreement remain unchanged. The foregoing description of the Seventh Amendment is qualified in its entirety by reference to the Seventh Amendment, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

 (d)      Exhibits

Exhibit No.      Description
10.1             The Seventh Amendment, dated March 14, 2014, 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
99.1             Press release, dated March 17, 2014, regarding the Seventh Amendment.

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