U.S. Concrete lifts revolving credit commitments to $102.5 million

By Marisa Wong

Madison, Wis., April 1 - U.S. Concrete, Inc. amended its loan and security agreement dated Aug. 31, 2012 to increase revolving credit commitments to $102.5 million from $80 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, completed on March 28, increases the lending commitment from Capital One Leverage Finance Corp. and adds Union Bank, NA as a lender.

The expiration date of the loan is still July 1, 2015, and the credit facility retains an uncommitted accordion feature that permits an increase in total commitments of up to $125 million.

Availability is subject to a borrowing base.

U.S. Concrete is a Euless, Texas-based company that operates through two segments: ready-mixed concrete and concrete-related products and precast concrete products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.