Eagle Materials to finance cement plant purchase with credit facility

By Tali Rackner

Norfolk, Va., Sept. 12 – Eagle Materials Inc. plans to use borrowings under its existing bank credit facility and cash on hand to finance its $400 million acquisition of Cemex SAB de CV’s Fairborn, Ohio, cement plant and related assets, according to a press release.

Following the close and financing of the transaction, Eagle expects to have a net debt-to-EBITDA ratio of no more than 2 times.

Goldman Sachs & Co. is acting as exclusive financial adviser to Eagle Materials on this transaction.

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

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