BIRMINGHAM, Ala., March 16, 2015 /PRNewswire/ -- Vulcan
Materials Company (NYSE: VMC) announced today that it intends to
offer, subject to market and other conditions, $400 million aggregate principal amount of
unsecured notes due 2025. The company intends to use the net
proceeds from this offering, 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, which was separately announced
by the company today, (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.
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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.
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SOURCE Vulcan Materials Company