Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a debut Rule 144A/Regulation S offering by Smyrna Ready Mix Concrete, LLC (“Smyrna”) of $830 million aggregate principal amount of 6% Senior Secured Notes due 2028.
Simpson Thacher also represented JPMorgan Chase Bank, N.A., as administrative agent, and the lenders in connection with a new $100 million ABL Revolving Credit Facility.
Smyrna is one of the largest privately held ready-mix concrete providers in the country. Founded in 1999, it is a family-owned and operated company providing ready-mix concrete, aggregates and concrete-related products and services, such as material hauling and concrete pumping.
The Simpson Thacher team for the transaction included, among others, John C. Ericson, Lisa Zhang, Matt Hart, Elise Quinones and Frances Fuqua (Capital Markets); Dan Kay, Dean Masuda and Heather Lee (Credit); Jonathan Pall (Collateral); Jonathan Goldstein and Sarah Katz (Tax); Jennifer Neilsson and Richard Malek (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); Tim Gallagher (Real Estate); and Andrew Pagliughi (Blue Sky).