Eagle Materials to fund CRS Proppants buy with draw on credit facility

By Tali Rackner

Norfolk, Va., Oct. 17 – Eagle Materials Inc. intends to use borrowings under Eagle’s bank credit facility and operating cash flow to fund its acquisition of CRS Proppants LLC and its subsidiaries, according to a press release.

The cash purchase price of roughly $225 million is subject to adjustments for working capital and other items.

Dallas-based Eagle Materials manufactures, distributes and sells gypsum wallboard and cement primarily in the United States.

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