Press Release April 22, 2021

GMS Inc. Closes Debut $350 Million High-Yield Bond Offering

Alston & Bird advised GYP Holdings III Corp., a wholly owned subsidiary of GMS Inc., in its debut offering of $350 million in senior high-yield bonds. 

The offering of 4.625% senior notes due 2029 was priced by GMS on April 15, 2021, and closed April 22, 2021.

The net proceeds of the bond offering were used to refinance a portion of the company’s outstanding term loan.

Listed on the New York Stock Exchange, GMS is a leading North American distributor of wallboard and suspended ceiling systems. Since its founding in 1971, the company has grown from a single location to 268 branches across 44 U.S. states and five Canadian provinces. 

Advising GYP Holdings on the high-yield financing is an Alston & Bird team led by Corporate & Finance partners Scott Ortwein, Kyle Healy, and Tamer Bahgat, assisted by partner Jordan Myers, counsel Michael Lee, senior associate Matt Strumph, and associates Katie Wroten, Alyssa Dunn, and Rob Davidson.
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Phone: 212.210.1222

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