secwatch.observer — SEC 8-K summary
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Issuer:     Summit Materials, LLC (—)
CIK:        0001571371
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001104659-23-126049
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Materials issues $800M 7.250% Senior Notes due 2031 to fund Argos deal
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- Issued $800M of 7.250% Senior Notes due 2031 (maturity Jan 15, 2031) at 100% par.
- Proceeds held in escrow; if Argos acquisition not closed by Nov 25, 2024, notes redeemed at special mandatory redemption price.
- Net proceeds with incremental term loan to fund Argos deal, repay existing term loans, and pay fees.
- Notes are senior unsecured; guaranteed by domestic subsidiaries but not by Summit Materials, Inc.
- Redemption: make-whole prior to Jan 2027; then 103.625% (2027), 101.813% (2028), 100% (2029).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1571371/000110465923126049/0001104659-23-126049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1571371/000110465923126049/tm2330827d7_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-126049

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