Company Overview of Ply Gem Industries, Inc.
Ply Gem Industries, Inc. engages in the manufacture and sale of various products for the residential and commercial construction, manufactured housing, and remodeling and renovation markets in the United States and Canada. It operates in two segments, Siding, Fencing, and Stone; and Windows and Doors. The Siding, Fencing, and Stone segment primarily offers vinyl sidings and skirtings, vinyl and aluminum soffits, aluminum trim coils, cellular PVC trim and mouldings, J-channels, wide crown moldings, window and door trims, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutte...
5020 Weston Parkway
Cary, NC 27513
Key Executives for Ply Gem Industries, Inc.
Chief Operating Officer and Executive Vice President
President of U S Windows Group
Compensation as of Fiscal Year 2013.
Ply Gem Industries, Inc. Key Developments
Ply Gem Holdings, Inc., Ply Gem Industries, Inc., Ply Gem Canada, Inc., Gienow Canada Inc., and Mitten Inc., Enters into Senior Secured Asset-Based Revolving Credit Facility
Nov 4 13
On November 1, 2013 Ply Gem Holdings, Inc., Ply Gem Industries, Inc., and Ply Gem Canada, Inc., Gienow Canada Inc., and Mitten Inc., entered into an amended and restated senior secured asset-based revolving credit agreement with UBS Securities LLC, as joint lead arranger and joint bookrunner, Wells Fargo Capital Finance, LLC, as syndication agent, joint lead arranger, joint bookrunner and co-collateral agent, UBS AG, Stamford Branch, as U.S. administrative agent and U.S. collateral agent, UBS AG Canada Branch, as Canadian administrative agent and Canadian collateral agent, and a syndicate of financial institutions and institutional lenders. The ABL Facility provides for revolving credit financing of up to $250.0 million subject to borrowing base availability, with a maturity of five years, including sub-facilities for letters of credit, swingline loans and borrowings in Canadian dollars and United States dollars. $200.0 million of the ABL Facility is available to Ply Gem Industries and $50.0 million is available to the Canadian Borrowers. In addition, the ABL Facility provides that the revolving commitments may be increased to $350.0 million, subject to certain terms and conditions. The borrowing base at any time equals the sum of: 90% of the eligible credit card receivables; 85% of the net amount of eligible receivables; and 85% of the net orderly liquidation value of eligible inventory. All borrowings under the ABL Facility will be subject to the satisfaction of customary conditions, including absence of a default and accuracy of representations and warranties. Borrowings under the ABL Facility bear interest at a rate per annum equal to, at Ply Gem Industries' option, either (a) a base rate determined by reference to the higher of (1) the corporate base rate of the Administrative Agent, as established at its Stamford Branch, and (2) the federal funds rate plus 0.5% or (b) a Eurodollar rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, in each case plus an applicable margin. The initial applicable margin for borrowings under the ABL Facility is 0.75% for base rate loans and 1.75% for Eurodollar rate loans. The ABL Facility has an initial term of five years. However, the ABL Facility will mature on (i) the date which is three months prior to the maturity date of Ply Gem Industries' existing 8.25% Senior Secured Notes due 2018 unless, on or prior to such date, the Senior Secured Notes have been repaid, refinanced or the maturity date thereof extended, in each case, to a date that is at least six months later than the Stated Maturity Date and (ii) the date which is three months prior to the maturity date of Ply Gem Industries' existing 9.375% Senior Notes due 2017 unless, on or prior to such date, the Senior Notes have been repaid, refinanced or the maturity date thereof extended, in each case, to a date that is at least six months later than the Stated Maturity Date.
Ply Gem Industries, Inc. Enters into Amendment to its Senior Secured Asset-Based Revolving Credit Facility
Apr 5 13
Ply Gem Industries, Inc. a wholly-owned subsidiary of Ply Gem Holdings, Inc. entered into an amendment to its senior secured asset-based revolving credit facility among the company, Ply Gem Canada, Inc., Ply Gem Holdings, the guarantors party thereto, the lenders party thereto, UBS AG, Stamford Branch, as U.S. Administrative Agent, and UBS AG Canada Branch, as Canadian Administrative Agent. The amendment to the ABL Facility, among other things: (i) increased the Tuck-in acquisition level from $20.0 million to $25.0 million and modified the required excess availability levels for certain acquisitions to the lesser of (x) 25% of the lesser of the borrowing base and aggregate commitments and (y) $17.5 million, (ii) increased the amount of debt that Ply Gem Holdings is permitted to incur under the tax receivable agreement from $65.0 million to $100.0 million, subject to the satisfaction of certain conditions, including the company maintaining excess availability levels greater than the lesser of (x) 25% of the lesser of the borrowing base and aggregate commitments and (y) $17.5 million and (iii) modified the change of control definition so that a change of control will be deemed to occur if, following a Qualifying IPO (as defined in the ABL Facility), a person or group is or becomes the beneficial owner, directly or indirectly, of voting equity interests of Ply Gem Holdings representing the greater of (x) 35% or (y) the voting power of the voting equity interests of Ply Gem Holdings owned by the Equity Investors (as defined in the ABL Facility), rather than requiring the Equity Investors to maintain a minimum voting or ownership level in Ply Gem Holdings.
Ply Gem Industries, Inc. Presents at JPMorgan Chase & Co.'s Global High Yield & Leveraged Finance Conference, Feb-25-2013
Feb 18 13
Ply Gem Industries, Inc. Presents at JPMorgan Chase & Co.'s Global High Yield & Leveraged Finance Conference, Feb-25-2013 . Venue: Loews Miami Beach Hotel, 1601 Collins Ave., Miami Beach, Florida, United States.
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