Summit Materials to launch $166.4 million credit facility on Friday

By Sara Rosenberg

New York, Jan. 7 - Summit Materials LLC is scheduled to hold a bank meeting on Friday to launch its proposed $166.4 million credit facility, according to sources.

Citigroup, UBS and Jefferies are the lead banks on the deal, with Citi the left lead.

The facility is comprised of a $30 million three-year revolver and a $136.4 million 31/2-year term loan, the source said, adding that price talk is not yet available.

Proceeds will be used to fund the acquisition of Hinkle Contracting Corp., a Paris, Ky.-based construction company.

Summit Materials is a Washington D.C.-based company that was formed in early 2009 to acquire and grow companies in the aggregates and heavy-side building materials industry.

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