Smyrna Ready Mix to launch $315 million term loan B on Thursday

By Sara Rosenberg

New York, Oct. 21 – Smyrna Ready Mix Concrete LLC is set to hold a lender call on Thursday to launch a $315 million seven-year senior secured term loan B (B1/B+), according to a market source.

J.P. Morgan Securities LLC, BNP Paribas Securities Corp., BofA Securities Inc. and Goldman Sachs Bank USA are the lead banks on the deal.

Price talk on the term loan is Libor plus 375 basis points to 400 bps with a 0.75% Libor floor and an original issue discount of 99, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due on Oct. 29, the source added.

Proceeds will be used to fund acquisitions, to refinance existing debt and for general corporate purposes.

Smyrna Ready Mix is a Nashville, Tenn.-based manufacturer and retailer of ready-mixed concrete.

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