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Summit Materials announces pricing of senior notes

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World Cement,

Summit Materials has announced that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corporation finalised the terms of the previously announced offering of US$250 million aggregate principal amount of 8.500% Senior Notes due 2022.

Summit anticipates that consummation of the offering will occur on 8 March 2016 and intends to use the proceeds from the offering to fund the acquisition of Boxley Materials Company, replenish cash used for the acquisition of American Materials Company and to pay fees and expenses incurred in connection with the offering and the acquisitions.

The notes to be offered have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered, by the initial purchasers, only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-US persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

Adapted from press release by Joseph Green

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