Arcosa, Inc. Announces Launch of $700 Million Term Loan B
06 August 2024 - 1:40PM
Business Wire
Arcosa, Inc. (NYSE: ACA) (“Arcosa,” the “Company,” “We,” or
“Our,”) today announced that it is launching a proposed senior
secured Term Loan B Facility due 2031 in an aggregate principal
amount of up to $700.0 million (the “Term Loan”).
Arcosa intends to use the proceeds from the Term Loan, together
with available cash and other unsecured debt the Company intends to
obtain, to fund the previously announced acquisition of the
construction materials business of Stavola Holding Corporation and
its affiliated entities for $1.2 billion in cash (such transaction,
the “Transaction”).
There can be no assurances that the Company will be successful
in its marketing efforts or that it will be able to obtain the Term
Loan. Closing of the Term Loan, which is anticipated to occur in
the fourth quarter of 2024, is subject to market conditions, as
well as the negotiation and execution of definitive documents and
the satisfaction of customary closing conditions, including the
concurrent closing of the Transaction.
About Arcosa
Arcosa, Inc., headquartered in Dallas, Texas, is a provider of
infrastructure-related products and solutions with leading
positions in construction, engineered structures, and
transportation markets. Arcosa reports its financial results in
three principal business segments: Construction Products,
Engineered Structures, and Transportation Products. For more
information, visit www.arcosa.com.
Cautionary Statements About Forward-Looking
Information
Some statements in this release, which are not historical facts,
are “forward-looking statements” as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about Arcosa’s estimates,
expectations, beliefs, intentions or strategies for the future.
Arcosa uses the words “anticipates,” “assumes,” “believes,”
“estimates,” “expects,” “intends,” “forecasts,” “may,” “will,”
“should,” “guidance,” “outlook,” “strategy,” “plans,” “goal,” and
similar expressions to identify these forward-looking statements.
Forward-looking statements speak only as of the date of this
release, and Arcosa expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein, except as required by
federal securities laws. Forward-looking statements are based on
management’s current views and assumptions and involve risks and
uncertainties that could cause actual results to differ materially
from historical experience or our present expectations, including
but not limited to assumptions, risks and uncertainties regarding
failure to successfully complete and integrate acquisitions,
including Ameron and Stavola, or divest any business, including the
steel components business, or failure to achieve the expected
benefits of acquisitions or divestitures; market conditions and
customer demand for Arcosa’s business products and services; the
cyclical nature of, and seasonal or weather impact on, the
industries in which Arcosa competes; competition and other
competitive factors; governmental and regulatory factors; changing
technologies; availability of growth opportunities; market
recovery; ability to improve margins; the impact of inflation and
costs of materials; assumptions regarding achievements of the
expected benefits from the Inflation Reduction Act; the delivery or
satisfaction of any backlog or firm orders; the impact of pandemics
on Arcosa’s business; and Arcosa’s ability to execute its long-term
strategy, and such forward-looking statements are not guarantees of
future performance. For further discussion of such risks and
uncertainties, see “Risk Factors” and the “Forward-Looking
Statements” section of “Management's Discussion and Analysis of
Financial Condition and Results of Operations” in Arcosa's Form
10-K for the year ended December 31, 2023 and as may be revised and
updated by Arcosa's Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240804786087/en/
MEDIA CONTACT: media@arcosa.com
INVESTOR CONTACTS Gail M. Peck Chief Financial Officer Erin
Drabek Director of Investor Relations T 972.942.6500
InvestorResources@arcosa.com David Gold ADVISIRY Partners T
212.661.2220 David.Gold@advisiry.com
Arcosa (NYSE:ACA)
Historical Stock Chart
Von Okt 2024 bis Okt 2024
Arcosa (NYSE:ACA)
Historical Stock Chart
Von Okt 2023 bis Okt 2024