Ready Mixed Concrete $150 million eight-year notes talked to yield 9¼%-9½%, to price Thursday

By Paul A. Harris

St. Louis, Oct. 27 - Price talk on Ready Mixed Concrete Co.'s $150 million offering of eight-year senior subordinated notes (Caa1/CCC+) of 9¼% to 9½% emerged Wednesday, according to market sources.

Pricing is expected on Thursday.

JP Morgan is the bookrunner for the Rule 144A offering.

Jefferies & Co. is the co-manager.

The notes are non-callable for four years.

Proceeds will be used to help fund the leveraged buyout of the company by Audax Group.

The Escondido, Calif.-based company is a producer of ready-mixed concrete.

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