Texas Industries has launched an offering for $600 million of senior notes due 2020
Texas Industries has launched an offering for $600 million of senior notes due 2020. This offering, which is subject to market availability as well as other conditions, will be made only to qualified institutional buyers and those outside the United States in compliance with Regulation S.
TXI intends to use the net proceeds to purchase its outstanding $550 million principal amount of 7.24% senior notes due 2013. To the extent that there are net proceeds remaining, the money will be used for general corporate purposes including to redeem or otherwise acquire any remaining outstanding 7.25% senior notes due 2013.