Simpson Thacher Represents Initial Purchasers in Senior Secured Notes Offering by Smyrna Ready Mix Concrete
05.28.21
This is only gets display when printing
Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Regulation S offering by Smyrna Ready Mix Concrete, LLC (“Smyrna”) of $270 million aggregate principal amount of 6% Senior Secured Notes due 2028. The notes were issued as additional notes under the indenture governing Smyrna’s $830 million aggregate principal amount of 6% Senior Secured Notes due 2028 that were issued on November 6, 2020 and constitute part of the same series as such notes. The net proceeds from the offering will be used to fund certain acquisitions.
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 John C. Ericson, Matt Hart and Pia Figuerola (Capital Markets); Dan Kay, Dean Masuda, Abdul Fasinro and Heather Lee (Credit); Stephen Wiseman (M&A); Jonathan Pall (Collateral); Tim Gallagher (Real Estate); Jonathan Goldstein and Zachary Fialkow (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); and Jennie Getsin (Blue Sky).