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New Issue-Vulcan Materials sells $1.1 bln in two parts
June 3, 2011 / 9:23 PM / 6 years ago

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

  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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