Texas Industries gets $200 million amended and restated revolver

By Sara Rosenberg

New York, Aug. 31 - Texas Industries Inc. closed on a $200 million five-year amended and restated senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Bank of America Merrill Lynch and Wells Fargo Capital Finance LLC acted as the joint lead arrangers and bookrunners on the deal that was completed on Aug. 25, with Bank of America the administrative agent.

Pricing on the revolver can range from Libor plus 200 basis points to 275 bps and the commitment fee can range from 37.5 bps to 50 bps, based on the company's fixed-charge coverage ratio. Initial pricing is Libor plus 275 bps.

There is a $50 million accordion feature.

Proceeds were used to replace an existing revolver.

Texas Industries is a Dallas-based producer and supplier of heavy construction materials.

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