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U.S. Concrete Amends Credit Facility

October 31, 2013, 07:17 AM
Filed Under: Distribution
Related: U.S. Concrete

On October 29, 2013, U.S. Concrete, Inc. amended and restated its asset-based credit agreement. The amendment, among other provisions, effects the following changes upon a qualified refinancing of the Company's 9.50% Senior Secured Notes due 2015 (if any):

  • increases the total commitments under the credit facility from $102.5 million to $125 million; and
  • extends the expiration date of the credit facility from July 1, 2015 to the earlier of (i) October 29, 2018 or (ii) 60 days prior to the maturity of the indebtedness incurred in refinancing the Senior Secured Notes.

The amendment also increases the uncommitted accordion feature to $50 million, increasing the total commitments that may be allowable under the credit facility to $175 million. Availability under the facility is subject to certain conditions including the calculation of a borrowing base.

U.S. Concrete services the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and aggregate products.

Previously on ABL Advisor:
BofA, Others in U.S. Concrete $20.5MM Increase to Asset-Based Facility

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