Summit Materials to redeem $250 million of 8˝% notes via new issue

By Susanna Moon

Chicago, Feb. 28 – Summit Materials, Inc. said it plans to redeem its $250 million principal amount of its outstanding 8˝% senior notes due 2022 using proceeds of a new issue.

The company’s indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. plan to price $300 million principal amount of senior notes due 2027 under Rule 144A and Regulation S, according to an announcement by the company.

Any remaining proceeds will be used for general corporate purposes, including to finance acquisitions.

Summit Materials is a Denver-based construction materials company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.