Vulcan holders exchange $110.7 million 2037 notes for 2048 notes by early deadline

By Wendy Van Sickle

Columbus, Ohio, March 5 – Vulcan Materials Co. said $110.7 million, or 46.09%, of its 7.15% notes due 2037 were tendered for exchange by the early deadline of its offer to trade the notes for new 4.7% notes due 2048.

The offer opened on Feb. 20, and the early deadline was 5 p.m. ET on March 5.

Vulcan will pay a total exchange price of $1,000 of new notes plus $344.09 in cash plus accrued interest of $17.44 per $1,000 of notes tendered for exchange by the early deadline.

The total exchange price includes a premium of $50 in cash per $1,000 of notes tendered for exchange by the early deadline.

The offer continues until 11:59 p.m. ET on March 19.

The new notes will form a single series with the $350 million of 4.7% notes due 2048 issued by the company on Feb. 23.

The new notes have not been registered under the Securities Act of 1933.

D. F. King & Co., Inc. (877-361-7972, 212-269-5550 or vmc@dfking.com) is the information agent. Vulcan Materials is a Birmingham, Ala., producer of construction aggregates.

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