New Issue: U.S. Concrete upsized $200 million 10-year notes yield 8 3/8%

By Paul A. Harris

St. Louis, March 26 - U.S. Concrete Inc. priced an upsized $200 million issue of 10-year senior subordinated notes (B3/B-) Friday at par to yield 8 3/8%, a market source said.

Price talk was in the area of 8½%.

Citigroup and Banc of America Securities ran the books on the Rule 144A issue. The co-managers were JP Morgan, BB&T Capital Markets, Comerica and Hibernia.

Proceeds will be used to redeem $95 million of the company's 12% senior subordinated notes and repay bank debt.

The issuer is a Houston concrete and concrete products company.

Issuer:	U.S. Concrete Inc.
Amount:	$200 million, increased from $150 million
Maturity:	April 1, 2014
Security description:	Senior subordinated notes
Bookrunners:	Citigroup, Banc of America Securities
Co-managers:	JP Morgan, BB&T Capital Markets, Comerica, Hibernia
Coupon:	8 3/8%
Price:	Par
Yield:	8 3/8%
Spread:	462 basis points
Call features:	Callable after April 1, 2009 at 104.188, 102.792, 101.396, par on or after April 1, 2012
Equity clawback:	Until April 1, 2007 for 35% at 108.375
Pricing date:	March 26
Settlement date:	March 31
Ratings:	Moody's: B3
	Standard & Poor's: B-
Price talk:	8½% area

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