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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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European Shares Seen Higher At Open
European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.
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Sensex Nifty Decline On Tariff Worries
Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
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European Economic News Preview: Eurozone Economic Sentiment Data Due
Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.
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Australian Market Trims Early Losses In Mid-market
The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
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Asian Markets Trade Mostly Higher
Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.
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Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect
Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.
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Swiss Market Settles Modestly Higher
The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters.
The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.
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