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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
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Weak crude oil and metal prices are likely to hurt as well.
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FTSE 100 Notably Lower; Johnson Matthey Soars 32%
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