---
schema_version: "secwatch.filing_event.v1"
accession: "0001580905-23-000039"
form_type: "8-K"
ticker: "IBP"
cik: "0001580905"
company_name: "Installed Building Products, Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T11:05:00.800112+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# IBP reprices $492.5M term loan; SOFR spread cut 25 bps to 2.00%

## Summary
- Repriced approx. $492.5M of existing term loans; new Tranche B-1 Term Loans at SOFR + 2.00% (25 bps reduction).
- Expect annual interest expense savings exceeding $1 million through Dec. 2028 maturity.
- Loan matures Dec. 2028, no financial maintenance covenants, rated BB+ (S&P) and Ba2 (Moody's).
- RBC Capital Markets and Goldman Sachs Bank USA acted as joint lead arrangers.

## SEC filing metadata
- accession: 0001580905-23-000039
- form_type: 8-K
- ticker: IBP
- cik: 0001580905
- company_name: Installed Building Products, Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1580905/000158090523000039/0001580905-23-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1580905/000158090523000039/ibp-20230814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001580905-23-000039
- JSON: https://secwatch.observer/filing/0001580905-23-000039.json
- Plain text: https://secwatch.observer/filing/0001580905-23-000039.txt

## Key facts
- Debt Financings
  Installed Building Products, Inc. amended term loan of $492.5 million with Royal Bank of Canada as term administrative agent and term collateral agent at (i) adjusted term SOFR plus 2.00% per annum; or (ii) alternate base rate equal t maturing seven-year term loan facility.
  - Instrument: term loan
  - Principal: $492.5 million
  - Counterparty: Royal Bank of Canada as term administrative agent and term collateral agent
  - Rate: (i) adjusted term SOFR plus 2.00% per annum; or (ii) alternate base rate equal t
  - Maturity: seven-year term loan facility
  - Event: amendment
  source text: The Second Amendment, among other things, amends certain terms of the Existing Credit Agreement, including without limitation, to reprice the Company’s approximately $492.5 million of existing term loans, in connection with which new term loans in the same amount will be issued (the “ Tranche B-1 Term Loans ”). The Tranche B-1 Term Loans bear interest, at the Company’s option, at a rate equal to either: (i) the adjusted term secured overnight financing rate (“ SOFR Rate ”), plus 2.00% per annum; or (ii) an alternate base rate equal to the highest of (x) the federal funds rate plus 1/2 of 1.00%, (y) the prime rate and (z) the SOFR Rate for an interest period of one month plus 1.00%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1580905/000158090523000039/0001580905-23-000039-index.htm
- Material Agreements
  Installed Building Products, Inc. amended Amendment No. 2 to Term Loan Credit Agreement with Royal Bank of Canada valued at repricing of approximately $492.5 million existing term loans, Tranche B-1 Term Loans, interest at S (effective 2023-08-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Royal Bank of Canada
  - Value: repricing of approximately $492.5 million existing term loans, Tranche B-1 Term Loans, interest at S
  - Effective: 2023-08-14
  source text: On August 14, 2023 (the “ Effective Date ”), Installed Building Products, Inc., a Delaware corporation (the “ Company ”) and certain of its affiliates entered into Amendment No. 2 to Term Loan Credit Agreement (the “ Second Amendment ”) with Royal Bank of Canada as term administrative agent and term collateral agent and the lenders party thereto, which amends the existing Term Loan Credit Agreement, dated December 14, 2021, by and among the Company, Royal Bank of Canada as term administrative agent and term collateral agent and the lenders party thereto (as amended by Amendment No. 1 to Term Loan Credit Agreement, dated as of April 28, 2023, the “ Existing Credit Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1580905/000158090523000039/0001580905-23-000039-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.