Concrete Pumping Holdings, Inc. announced its wholly-owned subsidiary, Brundage-Bone Concrete Pumping Holdings Inc., intends to offer $400.0 million aggregate principal amount of senior secured second lien notes due 2032. The notes will be offered on a private placement basis.
The company plans to use the net proceeds from this offering to pay the redemption price for all of its outstanding 6.000% senior secured second lien notes due 2026. This refinancing aims to extend the maturity profile of its debt.
The remaining proceeds, after covering redemption and related fees and expenses, are designated for general corporate purposes. This financing initiative is a key step in managing the company's long-term debt obligations and enhancing its financial stability.
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