NEW ENTERPRISE, Pa.–(BUSINESS WIRE)–New Enterprise Stone & Lime Co., Inc. (“NESL” or the “Company”)announced today that it intends to offer, subject to customaryconditions, $200.0 million aggregate principal amount of its SeniorNotes due 2022 (the “Notes”) in a private placement.
The Company intends to use the proceeds from the offering of the Notes,together with available cash on hand and borrowings under its revolvingcredit facility to redeem, repurchase or otherwise retire the Company’s11% senior notes due 2018, including accrued and unpaid interest thereonand other related fees and expenses. Concurrently with the announcementof the Notes offering, the Company announced a tender offer for any andall of the Company’s 11% senior notes due 2018.
The Notes are being offered in a private offering that is exempt fromthe registration requirements of the Securities Act of 1933, as amended(the “Securities Act”), only to qualified institutional buyers inreliance on Rule 144A under the Securities Act, and outside the UnitedStates, only to non-U.S. investors pursuant to Regulation S. The Noteshave not been registered under the Securities Act or any statesecurities laws and may not be offered or sold in the United Statesabsent an effective registration statement or an applicable exemptionfrom registration requirements or a transaction not subject to theregistration requirements of the Securities Act or any state securitieslaws.
This press release shall not constitute an offer to sell or thesolicitation of an offer to buy any security and shall not constitute anoffer, solicitation or sale in any jurisdiction in which such offering,solicitation or sale would be unlawful.
About New Enterprise Stone & Lime Co., Inc.
New Enterprise Stone & Lime Co., Inc. is a leading privately held,vertically integrated construction materials supplier and heavy/highwayconstruction contractor in Pennsylvania and western New York and anational traffic safety services and equipment provider. Our corebusinesses include: (i) construction materials (aggregate production(crushed stone and construction sand and gravel), hot mix asphaltproduction and ready mixed concrete production), (ii) heavy/highwayconstruction (heavy construction, blacktop paving and other sitepreparation services) and (iii) traffic safety services and equipment.
Statements included herein may constitute forward looking statements.These statements are not guarantees of future performance or results andinvolve a number of risks and uncertainties. Actual results may differmaterially from those in the forward-looking statements as a result of anumber of factors, including those described from time to time in theCompany’s reports filed with the Securities and Exchange Commission. TheCompany undertakes no duty to update any forward looking statements madeherein.