U.S. Concrete guides $200 million tap of 6 3/8% notes due 2024 at 105-105.25; pricing Wednesday

By Paul A. Harris

Portland, Ore., Jan. 4 – U.S. Concrete, Inc. plans to price a $200 million add-on to its 6 3/8% senior notes due June 1, 2024 on Wednesday, according to market sources.

Initial guidance is 105 to 105.25.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S transaction.

The notes become callable after June 1, 2019.

The Euless, Texas-based supplier of ready-mixed concrete and concrete-related products plans to use the proceeds for general corporate purposes, including future acquisitions to expand its business.

The original $400 million priced at par on May 23, 2016. Following the consummation of a proposed exchange offer for those notes, they will become fungible with the proposed add-on notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.