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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Vulcan Materials | NYSE:VMC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.03 | 0.01% | 264.44 | 268.14 | 262.37 | 265.55 | 809,401 | 01:00:00 |
BIRMINGHAM, Ala., March 16, 2015 /PRNewswire/ --Â Vulcan Materials Company (NYSE: VMC) today announced the pricing of $400 million aggregate principal amount of 4.50% unsecured notes due 2025. The offering is expected to close on March 30, 2015, subject to the satisfaction of customary closing conditions.
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After deducting underwriting discounts and estimated offering expenses, the company intends to use the expected net proceeds from this offering of approximately $395 million, along with cash on hand and borrowings under its revolving credit facility to fund (i) a partial tender offer for its 7.00% notes due 2018, (ii) the previously announced redemption of its 6.40% notes due 2017, (iii) the planned redemption of its 6.50% notes due 2016 in an aggregate principal amount of approximately $125 million, and (iv) the planned redemption of its 8.85% notes due 2021 in an aggregate principal amount of $6 million and the planned prepayment of its floating rate notes due 2022 in an aggregate principal amount of $14 million.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vulcan-materials-announces-pricing-of-400-million-note-offering-300051224.html
SOURCE Vulcan Materials Company
Copyright 2015 PR Newswire
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