BIRMINGHAM, Ala., March 30, 2015 /PRNewswire/ -- Vulcan
Materials Company (NYSE: VMC) today announced the closing of its
offering of $400 million aggregate
principal amount of 4.50% unsecured notes due 2025.
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After deducting underwriting discounts and estimated offering
expenses, the company intends to use the net proceeds from this
offering of approximately $395
million, along with cash on hand and borrowings under its
revolving credit facility to fund (i) the previously announced
partial tender offer for its 7.00% notes due 2018, (ii) the
previously announced redemption of its 6.40% notes due 2017 in an
aggregate principal amount of approximately $219 million, (iii) the previously announced
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.
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SOURCE Vulcan Materials Company