{"schema_version":"secwatch.filing_event.v1","accession":"0001580905-24-000014","form_type":"8-K","ticker":"IBP","cik":"0001580905","company_name":"Installed Building Products, Inc.","filed_at":"2024-03-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.694060+00:00","generated_at":"2026-06-04T06:09:44.530553+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"IBP closes $500M new term loan refinancing with lower rate and extended maturity to 2031","bullets":["New $500M term loan matures March 28, 2031; proceeds refinance prior $490M Term Loan B.","Interest rate: SOFR+2.00% or base+1.00%; floor reduced to 0.0%; no financial maintenance covenants.","Six-month soft call protection with 1.00% premium and 50 bps MFN protection for 12 months.","CFO Miller cites stronger performance and market conditions for better terms; rated BB+/Ba1."],"urls":{"canonical":"https://secwatch.observer/filing/0001580905-24-000014","json":"https://secwatch.observer/filing/0001580905-24-000014.json","markdown":"https://secwatch.observer/filing/0001580905-24-000014.md","text":"https://secwatch.observer/filing/0001580905-24-000014.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/0001580905-24-000014-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/ibp-20240328.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T06:09:44.530553+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ad6e04e20762aa7ed24dcd7824191e4b5c837813","claim":"Installed Building Products, Inc. amended term loan of $500 million with Royal Bank of Canada at adjusted term secured overnight financing rate plus 2.00% per annum, or an alter maturing seventh anniversary of the Effective Date.","evidence_excerpt":"amends certain terms of the Existing Credit Agreement, including without limitation, to reprice and refinance the Company’s approximately $490 million of existing term loans, in connection with which new term loans in the amount of $500 million will be issued (the “ Tranche B-2 Term Loans ”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/0001580905-24-000014-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$500 million"},{"label":"Counterparty","value":"Royal Bank of Canada"},{"label":"Rate","value":"adjusted term secured overnight financing rate plus 2.00% per annum, or an alter"},{"label":"Maturity","value":"seventh anniversary of the Effective Date"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"236a1cecdc3dbbf3b78c356497beb8723245b592","claim":"Installed Building Products, Inc. amended Third Amendment with Royal Bank of Canada valued at $500 million (effective 2024-03-28).","evidence_excerpt":"Installed Building Products, Inc., a Delaware corporation (the “ Company ”) and certain of its affiliates entered into Amendment No. 3 to Term Loan Credit Agreement (“ Third Amendment ”) with Royal Bank of Canada as term administrative agent and term collateral agent and the lenders party thereto","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/0001580905-24-000014-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Royal Bank of Canada"},{"label":"Value","value":"$500 million"},{"label":"Effective","value":"2024-03-28"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}