---
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"
generated_at: "2026-06-04T06:09:44.530553+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# IBP closes $500M new term loan refinancing with lower rate and extended maturity to 2031

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001580905-24-000014
- JSON: https://secwatch.observer/filing/0001580905-24-000014.json
- Plain text: https://secwatch.observer/filing/0001580905-24-000014.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $500 million
  - Counterparty: Royal Bank of Canada
  - Rate: adjusted term secured overnight financing rate plus 2.00% per annum, or an alter
  - Maturity: seventh anniversary of the Effective Date
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/0001580905-24-000014-index.htm
- Material Agreements
  Installed Building Products, Inc. amended Third Amendment with Royal Bank of Canada valued at $500 million (effective 2024-03-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Royal Bank of Canada
  - Value: $500 million
  - Effective: 2024-03-28
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1580905/000158090524000014/0001580905-24-000014-index.htm

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