New Enterprise Stone starts tender offer for 6¼% secured notes due 2026

By Rebecca Melvin

Concord, N.H., Sept. 28 – New Enterprise Stone & Lime Co., Inc. said it has begun a cash tender offer to purchase any and all of its $450 million outstanding 6¼% senior secured notes due 2026 (Cusip: 644274AF9, U64159AD5).

Holders who validly tender their notes at or prior to 5 p.m. ET on Oct. 6 will be eligible to receive the total consideration of $1,034.40 per $1,000 principal amount of notes, according to a company release.

The tender offer is subject to a financing condition. The company intends to purchase the 2026 notes with proceeds from a concurrent offering of debt securities.

Truist Securities Inc. (404 926-5262) is acting as the dealer manager for the tender offer. The tender and information agent is Global Bondholder Services Corp. (www.globalbondholder.com/NESL, contact@gbsc-usa.com, 212 430-3774 for banks and brokers or fax 212 430-3775/3779).

The vertically integrated construction materials supplier and heavy/highway construction contractor is based in New Enterprise, Pa.

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