Installed Building Products Successfully Closes New Term Loan Facility

Columbus, Ohio – (COMMERCIAL THREAD) – Installed Building Products, Inc. (the “Company”) (NYSE: IBP), a leading installers of complementary insulation and building products, today announced that the Company has successfully completed its new project of $ 500 million over 7 years previously announced. Term loan (the “new term loan”).

The new term loan facility matures on December 13, 2028, has no financial sustainability clause and is rated BB + by S&P Global Ratings and Ba2 by Moody’s Investors Service. Moody’s also upgraded IBP’s family of companies rating from Ba3 to Ba2 and its probability of default rating from Ba2-PD from Ba3-PD. The price of the new term loan remains at LIBOR plus 225 basis points with a LIBOR floor of 50 basis points. The net proceeds from the new term loan were used to refinance the company’s old $ 200 million B term loan, with the remainder to be used for acquisitions, other growth initiatives and general corporate purposes. the company.

Royal Bank of Canada will act as the term administrative agent and term collateral agent for the new term loan. RBC Capital Markets, BofA Securities, Inc. and Goldman Sachs Bank USA acted as Joint Principal Arrangers and Joint Bookrunners, while Loop Capital Markets LLC, US Bank National Association, KeyBanc Capital Markets Inc. and PNC Capital Markets LLC acted as co-managers for the new term loan.

Additional details on the credit facility can be found in Form 8-K filed today with the Securities and Exchange Commission.

About installed construction products

Installed Building Products, Inc. is one of the largest installers of new residential insulation in the country and is a diverse installer of complementary building products including waterproofing, firestop, fireproofing, garage doors , gutters, blinds, shower doors, closet shelves and mirrors and other products for residential and commercial builders located in the continental United States. The company manages all aspects of the installation process for its customers, from direct purchasing and receiving materials from domestic manufacturers, to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial construction projects through its national network of more than 190 branches.

Forward-looking statements

This press release contains forward-looking statements within the meaning of federal securities laws, including with respect to the use of the proceeds of the New Term Loan, our financial and business model, the demand for our services and product offerings, expanding our footprint and end markets, diversifying our products, our ability to grow and strengthen our market position, our ability to pursue and integrate valuable acquisitions, our ability to improve our sales and our profitability, and demand expectations for our services and benefits. Forward-looking statements can generally be identified by the use of words such as “anticipate”, “believe”, “expect”, “intention”, “plan” and “” or, in each case, their variations. or comparable terminology. These forward-looking statements include all matters which are not historical facts. By their nature, forward-looking statements involve risks and uncertainties as they relate to events and depend on circumstances which may or may not occur in the future. The forward-looking statements we make here and in all future reports and statements are not guarantees of future performance, and actual results may differ materially from those expressed or suggested by such forward-looking statements due to various factors, including, without limitation, duration, effect and severity of the COVID-19 crisis; the negative impact of the COVID-19 crisis on our business and financial results, our supply chain, the economy and the markets we serve; general economic and industrial conditions; the price of materials and the supply environment; the timing of our selling price increases; and the factors discussed in the “Risk Factors” section of the Company’s annual report on Form 10-K for the year ended December 31, 2020, as they may be updated from time to time in our subsequent filings with of the Securities and Exchange Commission. Any forward-looking statement made by the Company in this press release speaks only as of the date hereof. New risks and uncertainties arise from time to time and it is impossible for the Company to predict these events or how they could affect it. The Company has no obligation and does not intend to update any forward-looking statements after the date hereof, except as required by federal securities laws.

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