Vulcan Materials Announces $1.0 Billion Senior Note Offering

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May 31, 2011, 02:45 ET

BIRMINGHAM, Ala., May 31, 2011 /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC) announced today that it intends to offer, subject to market and other conditions, $1.0 billion in aggregate principal amount of senior unsecured notes due 2016 and senior unsecured notes due 2021. Vulcan Materials intends to use the net proceeds from this offering to refinance its existing term loan, fund a partial tender offer for its existing senior notes due 2012 and 2013, reduce borrowings under its credit facility, and for general corporate purposes.

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BofA Merrill Lynch, Goldman, Sachs & Co., and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering.

The notes are being offered under an effective shelf registration statement that is on file with the Securities and Exchange Commission. The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from: BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Prospectus Department or by emailing [email protected] or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The Company announced separately that it has commenced a tender offer for up to $275,000,000 million aggregate principal amount of its 5.60% senior notes due 2012 and its 6.30% senior notes due 2013.

Vulcan Materials Company, a member of the S&P 500 Index, is the nation's largest producer of construction aggregates, a major producer of asphalt mix and concrete and a leading producer of cement in Florida.

Use of Forward-Looking Statements

This news release may contain "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements are inherently uncertain, and security holders must recognize that actual results may differ from expectations. Readers are strongly encouraged to read the full cautionary statements contained in Vulcan Materials Company filings with the SEC. Vulcan Materials Company disclaims any obligation to update or revise any forward-looking statements.

SOURCE Vulcan Materials Company