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Concrete Pumping closes senior secured second lien notes offering

Concrete Pumping (BBCP) Holdings announced that Brundage-Bone Concrete Pumping Holdings has closed its private offering of $425.0 million in aggregate principal amount of senior secured second lien notes due 2032. The Notes were issued at par and bear interest at a fixed rate of 7.500% per annum. The Issuer’s obligations under the Notes will be guaranteed by the Company, Concrete Pumping Intermediate Acquisition Corp. and each of the Issuer’s domestic, wholly-owned subsidiaries that is a borrower under or guarantees the ABL Facility. The proceeds of the Notes were used to pay the redemption price for all of the Company’s outstanding 6.000% senior secured second lien notes due 2026 and to pay related fees and expenses thereto. In addition, the remainder of the net proceeds of the Notes, together with cash on hand, will be used to pay a special one-time dividend of $1.00 per share of the common stock of the Company on or about February 3, 2025.

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