Banks have postponed an offering to amend and extend a $4.13 billion loan for White Cap Supply Holdings LLC, dealing a blow to the construction-supplies distributor’s efforts to push out debt maturities. The Clayton, Dubilier & Rice LLC-backed company struggled to attract sufficient investor demand for the offering, which would extend the maturity of its seven-year term loan B by four years to 2033, according to people familiar with the matter. The firm is now considering next steps, one of the people said, asking not to be identified because they’re not allowed to speak publicly.

White Cap — which supplies contractors with everything from concrete accessories and chemicals to safety products — has seen leverage surge to more than seven times a measure of earnings after taking on additional debt to fund its Colony Hardware acquisition earlier this year. The move prompted Moody’s Ratings to slash its rating on the firm’s credit to six steps below investment grade. Elevated interest expenses and a history of debt-funded distributions and acquisitions under CD&R ownership have weighed on White Cap, Moody’s said last week in a note to clients.

To be sure, White Cap’s sales in the second quarter increased by 27% from a year ago, with a 10.9% growth in organic revenue, even as it weathers weak residential demand, according to S&P Ratings. The company stands to benefit from its exposure to infrastructure and data center projects, S&P said in a note. White Cap marks the first leveraged-loan deal to be on hold in more than month. Pure Star, a commercial laundry firm backed by Cornell Capital, and fire protection firm Minimax Viking were the latest to shelve deals. Deutsche Bank AG, which was running the offering, and CD&R declined to comment.