The Firm recently represented Summit Materials, Inc. (NYSE: SUM) in connection with the financing for its $3.2 billion combination with Argos North America Corp. (“Argos USA”), the U.S. operations of Cementos Argos S.A. As part of the financing, Summit Materials obtained $1,010 million in new term loans, a portion of which was used to refinance its existing term loan facility and a $395 million upsize to its existing revolving credit facility, bringing the total revolving commitments thereunder to $625 million. The Firm also represented Summit Materials in its Rule 144A/Regulation S offering of $800 million aggregate principal amount of 7.25% Senior Notes due 2031 the proceeds of which were used to finance a portion of the cash consideration for the combination with Argos USA.
Summit Materials is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential, and end markets.
The Simpson Thacher team included Brian Gluck and Roman Ibragimov (Credit); Edgar Lewandowski, Benjamin Heriaud, Joann Kim, Ziang Zhou and Sofia Elkina (Capital Markets); Jonathan Cantor and Adam Hersch (Tax); and Jamin R. Koslowe and Yifan Cao (Executive Compensation and Employee Benefits).