Southern Equipment plans $480 million unsecured term loan

By Sara Rosenberg

New York, Nov. 17 - Southern Equipment Co., Inc. (Ready Mixed Concrete Co.) is planning on getting a new up to $480 million senior unsecured term loan, according to a company news release.

Proceeds will be used to fund a cash tender offer for the company's $150 million of 9½% senior subordinated notes due 2012.

The tender offer will expire on Dec. 15.

Southern Equipment is a producer of ready-mixed concrete in North Carolina, South Carolina and southern Virginia.

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