CRH has commenced cash tender offers and private exchange offers for any and all outstanding senior notes issued by its recently acquired subsidiary, Arcosa, Inc. The move targets two series of notes with an aggregate principal amount of $1 billion and is part of a post-acquisition debt management strategy.
Key Details
- Affected Securities: The offers target Arcosa's $400 million 4.375% Senior Notes due 2029 and $600 million 6.875% Senior Notes due 2032.
- Offer Structure: Noteholders can either sell their notes for cash (Tender Offer) or exchange them for new notes issued by a CRH subsidiary (Exchange Offer). A $50 premium per $1,000 principal is offered for early participation.
- Consent Solicitation: In conjunction with the offers, CRH is soliciting consents to amend the indentures of the Arcosa notes to eliminate certain restrictive covenants and events of default.
- Timeline: The offers were announced on November 4, 2026. The early tender deadline is November 18, 2026, and the offers are set to expire on December 4, 2026.