Smyrna Ready Mix talks $538 million term B at SOFR plus 375-400 bps

By Sara Rosenberg

New York, Nov. 7 – Smyrna Ready Mix Concrete LLC launched on Tuesday its $538 million term loan B (Ba3) due 2029 with price talk of SOFR plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99.75, according to a market source.

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

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Monday.

Proceeds will be used with $1.1 billion of senior secured notes to fund acquisitions and to pay down term loan and asset-based lending borrowings.

Smyrna Ready Mix is a Murfreesboro, Tenn.-based manufacturer and retailer of ready-mixed concrete.

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