The Firm recently represented Summit Materials, LLC and Summit Materials Finance Corp. as co-issuers in connection with a Rule 144A/Regulation S offering of $300 million aggregate principal amount of their 6.5% Senior Notes due 2027. Summit Materials used the proceeds from the offering to redeem all $250 million in aggregate principal amount of its outstanding 8.5% Senior Notes due 2022 and to pay fees and expenses incurred in connection with the offering and the redemption. Any remaining net proceeds will be used for general corporate purposes, including to finance acquisitions.
The co-issuers are indirect subsidiaries of Summit Materials, Inc. (NYSE: SUM), a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential end markets.
The Simpson Thacher team included Edgar Lewandowski, Jonathan Ozner, Daniel Areshenko and Kamron Cox (Capital Markets); Brian Gluck and Arman Naraghi-Pour (Credit); Andrew Purcell, Jonathan Cantor and Nicole Humphrey (Tax); Greg Grogan, Joo Hyun Lee and Kerri Thompson (Executive Compensation and Employee Benefits); and Michael Isby (Environmental).