Smyrna Ready Mix marketing $515 million eight-year secured notes; initial talk 5% area

By Paul A. Harris

Portland, Ore., Oct. 26 – Smyrna Ready Mix Concrete, LLC is expected to price a $515 million offering of eight-year senior secured notes on Friday, according to market sources.

Initial price talk has the deal coming to yield in the 5% area, a trader said.

J.P. Morgan Securities LLC is leading the offering.

The notes come with three years of call protection.

The Nashville-based manufacturer and retailer of ready-mixed concrete plans to use the proceeds to fund several pending acquisitions.

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