Smyrna Ready Mix launches $650 million term loan at SOFR plus 400 bps

By Sara Rosenberg

New York, March 14 – Smyrna Ready Mix Concrete LLC launched on Monday its $650 million seven-year term loan B (Ba3/B+) with price talk of SOFR+CSA plus 400 basis points with a 0.5% floor and an original issue discount of 97.5 to 98, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the left lead on the deal.

Commitments are due at 5 p.m. ET on March 23.

Proceeds will be used for acquisitions and general corporate purposes.

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

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