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Summit Materials Plans To Offer $800.0 Million Aggregate Principal Amount Of Senior Notes Due 2031
(RTTNews) - Summit Materials, Inc. (SUM) announced Monday that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. intend to offer $800.0 million aggregate principal amount of Senior Notes due 2031.
The Company intends to use the proceeds from the offering, together with borrowings under a new term loan B facility, to finance the previously announced transaction with Cementos Argos S.A. to acquire all of the outstanding equity interests of Argos North America Corp.
It will also be used to pay related fees and expenses incurred in connection with the offering, the Argos Transaction and other financing transactions. Any remaining net proceeds will be used for general corporate purposes.
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Summit Materials Says EVP And CFO Brian Harris Plans To Retire
Construction materials company Summit Materials, Inc. (SUM) announced Monday that Executive Vice President and Chief Financial Officer Brian Harris plans to retire after a decade with the Company.
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U.S. Existing Home Sales Unexpectedly See Further Downside In April
Existing home sales in the U.S. unexpectedly saw further downside in the month of April, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales fell by 0.5 percent to an annual rate of 4.00 million in April after plunging by 5.9 percent to a rate of 4.02 million in March.
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U.S. Weekly Jobless Claims Unexpectedly Edge Down To 227,000
A report released by the Labor Department on Thursday unexpectedly showed a slight decline by first-time claims for U.S. unemployment benefits in the week ended May 17th. The Labor Department said initial jobless claims edged down to 227,000, a decrease of 2,000 from the previous week's unrevised level of 229,000. The dip surprised economists, who had expected jobless claims to inch up to 230,000.
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U.S. Weekly Jobless Claims Unexpectedly Edge Slightly Lower
A report released by the Labor Department on Thursday unexpectedly showed a slight decline by first-time claims for U.S. unemployment benefits in the week ended May 17th.
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Euro Weakens After German Composite PMI Falls
The euro weakened against other major currencies in the European session on Thursday, following the release of Germany's composite output index for May.
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Bay Street Likely To Open On Weak Note
It's likely to be a weak start for stocks on Bay Street Thursday morning as investors may tread cautiously amid concerns about U.S. fiscal deficit, and continued uncertainty surrounding Trump administration's tariff moves.
Weak crude oil and metal prices are likely to hurt as well.
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FTSE 100 Notably Lower; Johnson Matthey Soars 32%
U.K. stocks are down in negative territory on Thursday afternoon, in line with other major markets in Europe, as worries about U.S. fiscal deficit and rising bond yields weigh on equities. Investors, digesting the nation's economic data, are also awaiting more clarity on U.S. President Donald Trump's tariff plans.
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Eurozone Private Sector Shrinks For First Time In 5 Months
The euro area private sector logged a renewed fall in May due to a sharp downturn in services activity, flash purchasing managers' survey compiled by S&P Global showed on Thursday. The flash composite output index fell to 49.5 in May from 50.4 in April. The score fell below the 50.0 no-change mark for the first time in five months.
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