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Vulcan Materials prices $350M offering; announces separate exchange offer

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Ep.1: Broadcast's Big Year


Global M&A by the Numbers Q4 2023

Vulcan Materials prices $350M offering; announces separate exchange offer

Vulcan Materials Co. priced a private offering of $350 million of 4.70% notes due 2048 at an offering price of 99.887% of the principal amount.

Net proceeds will total about $345 million, which will be used for general corporate purposes, including the repayment or retirement of debt. Interest on the notes is payable semiannually on Sept. 1 and March 1 each year.

The offering is expected to close on or about Feb. 23, subject to customary closing conditions.

The producer of construction materials separately said it intends to start an offer to exchange any and all of its outstanding 7.15% notes due 2037 for newly issued 2048 notes and cash. As of Feb. 20, nearly $240.2 million aggregate principal amount of the 7.15% notes is outstanding. The exchange offer will expire at 11:59 p.m. ET on March 19.