|Bid||0.00 x 1400|
|Ask||16.30 x 900|
|Day's range||14.45 - 15.25|
|52-week range||7.51 - 25.22|
|Beta (5Y monthly)||1.70|
|PE ratio (TTM)||16.58|
|Earnings date||28 Oct 2020 - 02 Nov 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||21.50|
Summit Materials Announces Pricing of $700 Million of 5.25% Senior Notes Due 2029
Summit Materials, Inc. (NYSE: SUM, "Summit") announced today that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. (the "Issuers", and, together with Summit, the "Company") intend to offer $700.0 million aggregate principal amount of Senior Notes due 2029 (the "notes"). The Company intends to use the proceeds from the offering to redeem all $650.0 million in aggregate principal amount of its outstanding 6.125% Senior Notes due 2023 (the "2023 Notes") and to pay fees and expenses incurred in connection with the offering and the redemption of the 2023 Notes. Any remaining net proceeds will be used for general corporate purposes, including to finance acquisitions.
Ladies and gentlemen, thank you for standing by, and welcome to Summit Materials Second Quarter 2020 Earnings Conference Call. Management's commentary and responses to questions on today's call may include forward-looking statements, which by their nature are uncertain and outside of Summit Materials' control. For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of Summit Materials' Annual Report on Form 10-K and in our quarterly report on Form 10-Q for the first quarter of 2020, each of which is filed with the SEC.