NEW ENTERPRISE, Pa.--(BUSINESS WIRE)--New Enterprise Stone & Lime Co., Inc., a leading privately held, vertically integrated construction materials supplier, announced today the pricing of its previously announced offering of $200.0 million aggregate principal amount of its 9.750% Senior Notes due 2028 (the “Notes”). The sale of the Notes is expected to close on July 15, 2020, subject to customary closing conditions.

The Company intends to use the proceeds from the offering of the Notes, together with available cash on hand and borrowings under its revolving credit facility to fund the previously announced tender offer and consent solicitation commenced in connection with this offering of the Company’s 10.125% Senior Notes due 2022 (the “2022 Notes”) and the satisfaction and discharge of the Company’s 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.

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).