Summit Materials announced that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. intend to offer $800M aggregate principal amount of Senior Notes due 2031. The company intends to use the proceeds from the offering, together with borrowings under a new term loan B facility, to finance the previously announced transaction with Cementos Argos S.A. to acquire all of the outstanding equity interests of Argos North America Corp. and to pay related fees and expenses incurred in connection with the offering, the Argos Transaction and other financing transactions in connection therewith. Any remaining net proceeds will be used for general corporate purposes.
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