CMC plans $2.0B notes offering to fund Foley acquisition; Foley FY2024 revenue $401M

COMMERCIAL METALS Co

CMC to offer $2.0B aggregate principal of senior unsecured notes; proceeds primarily for Foley acquisition and general corporate purposes.
Foley FY2024 net sales $401.1M, net income $126.1M; FY2023 net sales $390.3M, net income $126.4M.
Notes offering not conditioned on Foley close; mandatory redemption at 100% plus accrued if acquisition not completed by Oct 15, 2026.
Foley had $70.6M cash, $52.0M receivables, $29.8M inventory; total assets $289.0M as of Dec 31, 2024.
Foley manufactures concrete pipe and precast products from Newnan, GA; member's equity improved to $11.7M from deficit of $46.7M.

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