U.S. Concrete $150 million 10-year notes talked at 8½% area, pricing Friday

By Paul A. Harris

St. Louis, March 24 - Price talk of a yield in the 8½% area emerged Wednesday on U.S. Concrete, Inc.'s upcoming sale of $150 million of 10-year senior subordinated notes (B3/B-), according to a syndicate source.

The deal is expected to price on Friday.

Citigroup and Banc of America Securities are joint bookrunners on the Rule 144A offering. JP Morgan, BB&T Capital Markets, Comerica and Hibernia are co-managers.

The notes will come with five years of call protection.

Proceeds will be used to redeem $95 million of the company's 12% senior subordinated notes and repay bank debt.

The supplier of ready-mixed concrete and concrete products is headquartered in Houston.

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