Arcosa closes $600 million 6.875% senior notes offering to help fund Stavola acquisition
Arcosa closed a $600 million offering of 6.875% senior notes due 2032 on August 26, 2024, issued at 100% of face value. The company plans to use the proceeds, with expected borrowings under a Term Loan B facility due 2031, to fund its previously announced acquisition of the construction materials business of Stavola Holding Corporation. If the Stavola acquisition does not close by December 1, 2024, the notes must be redeemed at 100% of principal plus accrued interest, so the deal's completion affects this debt.
- $600 million aggregate principal of 6.875% senior notes due August 15, 2032, sold at 100% of face value
- Proceeds, with Term Loan B borrowings, to fund the Stavola Holding construction materials acquisition
- Special redemption at 100% of principal plus accrued interest if the acquisition is not completed by December 1, 2024
- Interest payable each February 15 and August 15, beginning February 15, 2025