Summit Materials to redeem rest of 10½% notes with new note proceeds

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – Summit Materials, Inc. will redeem its remaining $153.8 million of outstanding 10½% senior notes due 2020 with proceeds from an offering of $275 million of 6¼% senior notes due 2023, according to a company press release.

Any remaining proceeds from the sale of the new notes will be used for general corporate purposes, which may include the repayment of certain other debt.

Based in Denver, Summit acquires heavy-side building materials companies in the aggregates, ready-mix concrete, cement, asphalt paving and construction industries.

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