New Enterprise Stone & Lime Co., Inc. Announces Offering of its Senior Notes due 2028

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

New Enterprise Stone & Lime Co., Inc. (NESL or the Company), a leading privately held, vertically integrated construction materials supplier in Pennsylvania and western New York, announced today that it intends to offer $200.0 million aggregate principal amount of its Senior Notes due 2028 (the “Notes”) in a private placement.

Concurrently with the announcement of the Notes offering, the Company announced a cash tender offer (the Tender Offer) for any and all of the Companys outstanding 10.125% Senior Notes due 2022 (the 2022 Notes). In connection with the Tender Offer, the Company is also soliciting consents from the holders of the 2022 Notes to amend certain provisions of the indenture governing the 2022 Notes (the Consent Solicitation). The Company intends to use the net proceeds from the offering of the Notes, together with cash on hand and borrowings under its revolving credit facility, to fund the Tender Offer, the Consent Solicitation and the satisfaction and discharge of the Companys obligations under the 2022 Notes and the related indenture (and the subsequent redemption of any 2022 Notes that remain outstanding after the initial settlement date of the Tender Offer) and to pay related fees and expenses.

The Notes are being offered in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About New Enterprise Stone & Lime Co., Inc.

New Enterprise Stone & Lime Co., Inc. is a leading privately held, vertically integrated construction materials supplier and heavy/highway construction contractor in Pennsylvania and western New York. Our core businesses include: construction materials (aggregate production (crushed stone, sand and gravel), hot mix asphalt production and ready mixed concrete production) and heavy/highway construction (heavy construction, hot mix asphalt paving and other site preparation services).

Forward-Looking Statements

Statements included herein may constitute forward looking statements. These statements are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Companys reports. The Company undertakes no duty to update any forward looking statements made herein.

At the Company:

Paul I. Detwiler, III

President and Chief Executive Officer



Investor Relations:

Joe Hassett, SVP

Gregory FCA


[email protected]