We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| 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 | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 248.58 | 0 | 09:09:40 |
Vulcan Materials Company (VMC) announced pricing of $500 million and $600 million aggregate principal amount of, respectively, 6.5% senior unsecured notes due 2016 and 7.5% senior unsecured notes due 2021. The offering is expected to close on June 14, 2011, subject to customary closing terms and conditions.
The company expects to realize net proceeds of approximately $1.08 billion, which will be used to terminate Vulcan’s existing term loan due 2015, to fund a partial tender offer for its existing senior notes due 2012 and 2013, to reduce borrowings under its credit facility and the remaining for general corporate purposes.
During the first quarter of 2011, Vulcan Materials reported a net loss of 62 cents per share from continuing operations, deteriorating sharply from last year’s net loss of 53 cents per share from continuing operations. Total revenue dropped marginally to $487.2 million from $493.3 million in the corresponding quarter of 2010.
The year-over-year decline was primarily attributable to a fall in shipments in South Carolina, Florida and regions along the Gulf Coast, despite a stronger demand from public infrastructure projects in Tennessee, Virginia and Georgia.
Vulcan Materials’ cash and cash equivalents improved to $63.2 million as of March 31, 2011 from $36 million at the end of the prior-year period. However, long-term debt rose to $2.43 billion as of the above date from $2.10 billion a year ago.
Based in Birmingham, Alabama, Vulcan Materials Corp. is engaged in the production, distribution and sale of construction aggregates, and other construction materials and related services in the U.S. and Mexico.
It is the nation’s largest producer of construction aggregates and a leading producer of other construction materials. Its key competitors include Cemex S.A.B. de C.V. (CX), Lafarge S.A. (LFRGY) and Martin Marietta Materials Inc. (MLM).
1 Year Vulcan Materials Chart |
1 Month Vulcan Materials Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
