secwatch.observer — SEC 8-K summary
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Issuer:     Vulcan Materials CO (VMC)
CIK:        0001396009
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001193125-24-250653
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vulcan Materials enters $2B delayed draw term loan facility for Wake Stone acquisition
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- $2.0 billion 2-year delayed draw term loan facility entered on Nov 4, 2024, to fund Wake Stone Corp. acquisition.
- Revolving credit facility amended; maturity extended to Nov 4, 2029, with two one-year extension options.
- Financial covenant: max debt/EBITDA ratio of 3.50:1 (4.00:1 for four quarters after material acquisitions).
- Interest on term loan: Term SOFR + 1.000%-1.625% or base rate + 0.000%-0.625%, based on credit ratings.
- Net availability under revolving facility approx. $1,504.8M after $95.2M in standby letters of credit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396009/000119312524250653/0001193125-24-250653-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396009/000119312524250653/d904968d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-250653

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