Cahill Represents Lead Banks in $652 Million Notes Offerings and Related Tender Offer for New Enterprise Stone & Lime Co., Inc.
Cahill represented Truist Securities and the other initial purchasers in connection with a Rule 144A offering of $585,000,000 aggregate principal amount of 5.250% senior secured notes due 2028 and a $67,000,000 aggregate principal amount of 9.750% senior notes due 2028 by New Enterprise Stone & Lime Co., Inc. Proceeds from the offering were used to refinance existing indebtedness and to fund share repurchases. Cahill also represented Truist Securities as the dealer manager in connection with a cash tender offer for New Enterprise Stone & Lime Co., Inc.’s outstanding 6.250% Senior Secured Notes Due 2026. New Enterprises Stone & Lime Co., Inc. is a leading privately held, vertically integrated construction materials supplier and heavy/highway construction contractor in Pennsylvania and western New York.