Concrete pumping holdings announces offering of senior secured second lien notes

Denver, jan. 19, 2021 (globe newswire) -- concrete pumping holdings, inc. (nasdaq: bbcp) (the “company”) announced today that brundage-bone concrete pumping holdings inc. (the “issuer”), a wholly-owned subsidiary of the company, intends to offer, on a private placement basis, $350.0 million aggregate principal amount of senior secured second lien notes due 2026 (the “notes”). in addition, the company expects to amend and restate its existing abl credit agreement (the “abl facility”) to provide up to $125.0 million of commitments. the issuer's obligations under the notes will be guaranteed by the company, concrete pumping intermediate acquisition corp. (“intermediate holdings”) and each of the company's domestic, wholly-owned subsidiaries that is a borrower (other than the issuer) under or guarantees the abl facility.
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