Simpson Thacher Represents Summit Materials in $260 Million High Yield Debt Offering
01.24.14
This is only gets display when printing
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 $260 million aggregate principal amount of their 10.5% senior notes due 2020. The notes were issued as additional notes under an existing indenture pursuant to which $250 million aggregate principal amount of 10.5% senior notes due 2020 were issued in January 2012. The net proceeds from the offering were used to finance Summit’s acquisition of Alleyton Resource Corporation, to repay borrowings under Summit’s revolving credit facility, to pay fees and expenses and for general corporate purposes.
Headquartered in Denver, Colorado, Summit Materials is a privately-held building materials company that operates across 18 states and supplies aggregates, cement and related downstream products such as ready-mixed concrete and asphalt paving mix, as well as related paving and construction services. Summit Materials is owned primarily by affiliates of Blackstone Capital Partners V L.P. and Silverhawk Summit, L.P.
The Simpson Thacher team included, among others, Ed Tolley, Edgar Lewandowski, Joia Lee, Sunny Cheong and Jennifer Albrecht (Capital Markets), Alden Millard and Brian Gluck (Credit), Jonathan Cantor and Andrew Purcell (Tax), Michael Isby (Environmental), and Gregory Grogan and Jennifer Pepin (Executive Compensation and Employee Benefits).