Cahill Represents Financing Sources in Acquisition by Summit Materials
Cahill represented Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead book-running manager and the other initial purchasers in connection with the Rule 144A offering of $350,000,000 aggregate principal amount of 6.125% Senior Notes due 2023 by Summit Materials, LLC and Summit Materials Finance Corp., one of the fastest growing construction materials companies in the United States. Proceeds from the offering will be used to refinance certain outstanding debt and in connection with Summit’s acquisition of Lafarge NA’s 1.2 million short ton capacity Davenport, IA cement plant and seven cement distribution terminals.
Cahill also represented Bank of America as administrative agent, Merrill Lynch, Pierce, Fenner & Smith as arranger, and the other arrangers in connection with the amended and restated $895,000,000 Term B loan and revolving credit facility for Summit Materials, LLC. Proceeds were used to refinance existing loans and in connection with the acquisition.