New Issue-Vulcan Materials sells $1.1 bln in two parts

Fri Jun 3, 2011 5:21pm EDT

  June 3 (Reuters) - Vulcan Materials Co (VMC.N) on Friday
sold $1.1 billion of notes in two parts, said IFR, a Thomson
Reuters service.
  The size of the deal was increased from an originally
planned $1 billion.
  Bank of America Merrill Lynch, Goldman Sachs and SunTrust
Robinson Humphrey were the joint bookrunning managers for the
sale.
BORROWER: VULCAN MATERIALS CO
TRANCHE 1                                                
AMT $500 MLN      COUPON 6.50 PCT     MATURITY 12/1/2016 
TYPE NTS          ISS PRICE 100       FIRST PAY 12/1/2011
MOODY'S Ba1       YIELD 6.50 PCT      SETTLEMENT 6/14/2011
S&P DOUBLE-B      SPREAD 488 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
TRANCHE 2                                                
AMT $600 MLN      COUPON 7.50 PCT     MATURITY 6/15/2021 
TYPE NTS          ISS PRICE 100       FIRST PAY 12/15/2011
MOODY'S Ba1       YIELD 7.50 PCT      SETTLEMENT 6/14/2011
S&P DOUBLE-B      SPREAD 449 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS


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