DALLAS, Aug. 7 /PRNewswire-FirstCall/ -- Texas Industries, Inc.
(NYSE: TXI) announced today that it has increased the size of its previously
announced offering of 7-1/4% senior notes due 2013 ("Senior Notes") from
$250 million (as previously announced) to $300 million. The Senior Notes
priced at 93-1/4%.
TXI expects that the net proceeds from the Senior Notes offering will be
approximately $276.3 million after discounts and after commissions and
expenses. TXI intends to use the net proceeds from the Senior Notes offering
to repay its $150 million senior term loan and for general corporate purposes,
including capital expenditures.
The Senior Notes have not been registered under the Securities Act of 1933
(the "Securities Act") or any state securities laws, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and state securities laws.
This announcement shall not constitute an offer to sell or a solicitation of
an offer to buy the Senior Notes.
Certain statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed or implied by such forward looking statements. Potential
risks and uncertainties include, but are not limited to, the impact of
competitive pressures and changing economic and financial conditions on the
Company's business, construction activity in the Company's markets, abnormal
periods of inclement weather, unexpected periods of equipment downtime,
changes in costs of raw materials, fuel and energy, the impact of
environmental laws, regulations and claims and other risks and uncertainties
described in the Company's reports on SEC Forms 10-K, 10-Q and 8-K.
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