VULCAN MATERIALS COMPANY (NYSE:VMC) Files An 8-K Other EventsItem 8.01.
On June 12, 2017, Vulcan Materials Company (the “Company”) priced its offering of $250 million aggregate principal amount of senior unsecured floating rate notes due 2020, $50 million aggregate principal amount of senior unsecured 3.90% notes due 2027, and $700 million aggregate principal amount of senior unsecured 4.50% notes due 2047. The Company intends to use the net proceeds from the notes offering, bank borrowings and cash on hand to fund the previously announced proposed acquisition of Aggregates USA LLC and the redemptions of the Company’s notes due 2018 as described below.
On June 12, 2017, the Company elected to redeem all of the approximately $273 million aggregate principal amount of its outstanding 7.00% Notes due 2018 (CUSIP No. 929160AK5), and all of the $250 million aggregate principal amount of its outstanding 10.375% Notes due 2018 (CUSIP No. 929160AM1). On June 12, 2017, Regions Bank, as trustee and paying agent under the indenture governing each such series of the notes, mailed notices of redemption to the applicable record holders. The redemptions of each such series of the notes are scheduled to occur on July 12, 2017.
About VULCAN MATERIALS COMPANY (NYSE:VMC)
Vulcan Materials Company is a producer of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company has four segments organized around its principal product lines: Aggregates, Asphalt Mix, Concrete and Calcium. The Company operates approximately 344 aggregates facilities. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other). The Company has approximately 15.7 billion tons of permitted and proven or probable aggregates reserves. The Company produces and sells asphalt mix in Arizona, California, New Mexico and Texas. The Company produces and sells ready-mixed concrete in Georgia, Maryland, New Mexico, Texas, Virginia, Washington D.C. and the Bahamas. The Calcium segment consists of a Florida facility that mines, produces and sells calcium products.
