BB&T Capital Markets Serves as Co-Manager for Commercial Metals Company’s $350 Million 5.750% Offering of Senior Notes due 2026

Transaction Summary

On April 19, 2018, BB&T Capital Markets served as a co-manager for an offering of $350 million 5.750% senior notes due 2026 by Commercial Metals Company.

Proceeds from the offering are being used to finance the acquisition of U.S. rebar steel mill and fabrication assets from Gerdau S.A.

About the Companies

Commercial Metals Company manufactures, recycles, and markets steel and metal products and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution. The Americas Recycling segment processes and sells scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers. The Americas Mills segment manufactures finished long steel products, including reinforcing bars, merchant bars, light structural products, and other special sections. The Americas Fabrication segment offers fabricated steel products for use in the construction of commercial and non-commercial buildings, hospitals, convention centers, industrial plants, power plants, highways, bridges, arenas, stadiums, and dams. The International Mill segment manufactures rebars, merchant bars, and wire rods, as well as semi-finished billets. The company was founded in 1915.

Commercial & Industrial

The BB&T Capital Markets Commercial & Industrial Group provides clients with industry expertise and exceptional transaction execution. We offer M&A advisory, capital raising and corporate banking services for a variety of sectors, including building products & materials; commercial & consumer durables; industrial manufacturing and distribution; and outsourced commercial and industrial services.

About BB&T Capital Markets

BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.

  • C&M Conveyor, Inc.

    On May 31, 2018, C&M Conveyor, Inc. (“C&M” or the “Company”), a portfolio company of Blue Sage Capital, L.P. (“BSC”), was acquired by funds managed by CapitalWorks, L.L.C. (“CapitalWorks”). BB&T Capital Markets served as financial advisor to C&M.

    Read More
  • Oshkosh Corporation (NYSE: OSK)

    On May 3, 2018, BB&T Capital Markets served as a co-manager for an offering of $300 million 4.600% senior notes due 2028 by Oshkosh Corporation.

    Proceeds from the offering are being used to redeem existing indebtedness and for general corporate purposes.

    Read More
  • Accurate Holding, Inc. d/b/a All Integrated Solutions

    On April 30, 2018, Accurate Holding, Inc. d/b/a All Integrated Solutions (“AIS” or the "Company"), a portfolio company of High Road Capital Partners (“High Road”) was acquired by MSC Industrial Direct Co., Inc. (“MSC”) for approximately $86 million. BB&T Capital Markets served as the exclusive financial advisor to High Road.

    Read More
  • Commercial Metals Company (NYSE: CMC)

    On April 19, 2018, BB&T Capital Markets served as a co-manager for an offering of $350 million 5.750% senior notes due 2026 by Commercial Metals Company.

    Proceeds from the offering are being used to finance the acquisition of U.S. rebar steel mill and fabrication assets from Gerdau S.A.

    Read More
  • Optimus Steel, LLC

    On March 30, 2018, Optimus Steel, LLC (“Optimus” or the “Company”) completed its acquisition of the Beaumont, Texas mill and two downstream wire products facilities of Gerdau Ameristeel US, Inc., a division of Gerdau S.A., for $92.5 million. BB&T Capital Markets served as the exclusive financial advisor to Optimus.

    Read More
  • Tranzonic Intermediate Holdings, Inc.

    On March 27, 2018, Tranzonic Intermediate Holdings, Inc. (“Tranzonic” or the “Company”), a portfolio company of Silver Oak Services Partners, was acquired by PNC Riverarch Capital. BB&T Capital Markets served as the exclusive financial advisor to Tranzonic.

    Read More
  • Thermo-Tech Windows & Doors, LLC

    On March 16, 2018, Thermo-Tech Windows & Doors, LLC (“TTW” or the "Company"), a portfolio company of Bounds Equity Partners (“BEP”) and ORIX Mezzanine & Private Equity (“OMPE”), was acquired by Harvey Building Products (“Harvey”), a portfolio company of Dunes Point Capital (“DPC”). BB&T Capital Markets served as the exclusive financial advisor to the Company.

    Read More
  • Thibaut, Inc.

    On December 29, 2017, Thibaut, Inc. (“Thibaut” or the "Company"), a portfolio company of Champlain Capital Partners (“Champlain”) was acquired by Harbour Group (“Harbour”). BB&T Capital Markets served as the exclusive financial advisor to Champlain.

    Read More
  • D.R. Horton, Inc. (NYSE: DHI)

    On November 29, 2017, BB&T Capital Markets served as a co-manager for an offering of $400 million 2.550% senior notes due 2020 by D.R. Horton, Inc.

    Proceeds from the offering are being used for general corporate purposes, including the redemption of existing indebtedness.

     

    Read More
  • Huntington Ingalls Industries, Inc. (NYSE: HII)

    On November 17, 2017, BB&T Capital Markets served as a co-manager for an offering of $600 million 3.483% senior notes due 2027 by Huntington Ingalls Industries, Inc.

    Proceeds from the offering are being used to refinance existing indebtedness and for general corporate purposes.

     

    Read More
  • Leggett & Platt, Inc. (NYSE: LEG)

    On November 14, 2017, BB&T Capital Markets served as a co-manager for an offering of $500 million 3.500% senior notes due 2027 by Leggett & Platt, Inc.

    Proceeds from the offering are being used for general corporate purposes, which will include the repayment or refinancing of existing debt.

    Read More
  • Westlake Chemical Corporation (NYSE: WLK)

    On November 13, 2017, BB&T Capital Markets served as a co-manager for an offering of $500 million 4.375% senior notes due 2047 by Westlake Chemical Corporation.

    Proceeds from the offering are being used to assist in funding the redemption of 2021 and 2023 senior notes on or after February 15, 2018 and May 15, 2018, respectively.

     

    Read More
  • Republic Services, Inc. (NYSE: RSG)

    On November 13, 2017, BB&T Capital Markets served as a co-manager for an offering of $650 million 3.375% senior notes due 2027 by Republic Services, Inc.

    Proceeds from the offering are being used to repay amounts borrowed under credit facilities and general corporate purposes.

     

    Read More
  • Ramsey Industries, LLC

    On November 6, 2017, Ramsey Industries, LLC (“Ramsey” or the “Company”), a portfolio company of AEA Private Debt Group and Gridiron Capital, LLC, was acquired by Norwest Equity Partners. BB&T Capital Markets served as the exclusive financial advisor to Ramsey.

    Read More
  • JPW Industries, Inc.

    On September 22, 2017, JPW Industries, Inc. (“JPW” or the “Company”), a portfolio company of Tenex Capital Management (“Tenex”), was acquired by funds managed by Gamut Capital Management, L.P. (“Gamut”). BB&T Capital Markets served as financial advisor to JPW.

    Read More
  • WestRock Company (NYSE: WRK)

    On August 21, 2017, BB&T Capital Markets served as a joint bookrunner on an offering of $500 million 3.375% senior notes due 2027 by WestRock Company.

    Proceeds from the offering are being used to repay outstanding debt under WestRock Company’s term loans, receivables facility, and other lines of credit and for general corporate purposes.

    Read More
  • SIGMA International Group, Inc.

    On August 2, 2017, SIGMA International Group, Inc. (“SIGMA" or the "Company"), a portfolio company of Frontenac Company (“Frontenac”), was acquired by an investor group comprised of management and affiliates of Fairfax Financial Holdings Limited, a Canadian public company. BB&T Capital Markets served as the exclusive financial advisor to Frontenac.

    Read More
  • Alliance Sports Group

    On August 1, 2017, Bollinger Industries, Inc. and subsidiaries, d/b/a Alliance Sports Group (“ASG" or the "Company"), was acquired by LKCM Headwater Investments (“LKCM”). BB&T Capital Markets served as the exclusive financial advisor to ASG.

    Read More
  • Endries

    On June 1, 2017, Endries International, Inc. and certain related affiliates (collectively “Endries" or the "Company"), a subsidiary of Ferguson Enterprises, Inc. and its affiliates (collectively “Ferguson”), was acquired by Nautic Partners (“Nautic”). BB&T Capital Markets served as the exclusive financial advisor to Ferguson.

    Read More
  • Storage Battery Systems

    On May 19, 2017, Power Storage Solutions, LLC and subsidiaries, doing business as Storage Battery Systems (“Storage Battery Systems” or the “Company”), a portfolio company of Supply Chain Equity Partners (“Supply Chain”), was acquired by High Road Capital Partners (“High Road”). BB&T Capital Markets served as the exclusive financial advisor to Storage Battery Systems.

    Read More
  • Oracle Elevator Company

    On May 12, 2017, Oracle Elevator Company (collectively with its parent company, OEC Holding Corp., and its subsidiaries, "Oracle" or the "Company"), a portfolio company of Incline Equity Partners (“Incline”), was acquired by L Squared Capital Partners (“L Squared”). BB&T Capital Markets served as the exclusive financial advisor to Oracle.

    Read More
  • Kaman Corporation (NYSE: KAMN)

    BB&T Capital Markets’ Diversified Industries Group completed a transaction for Kaman Corporation, an industrial company in the second quarter of 2017, helping to raise $200,000,000 in gross proceeds for our client.

    Kaman Corporation intends to use the net proceeds from this offering to unwind select pre-existing hedges, and repay indebtedness including the repurchase of a portion of its convertible notes maturing in 2017. Total gross proceeds includes the exercise of the underwriters’ 30-day option to purchase additional notes to cover over-allotments.

    Read More
  • O2COOL, LLC

    On March 31, 2017, O2COOL, LLC (“O2COOL” or the “Company”), a portfolio company of Focus Investments, Inc. and  Waveland  Investments  LLC  (“Focus”  and  “Waveland”),  was  acquired  by  LKCM  Headwater  Investments (“LKCM”). BB&T Capital Markets served as the exclusive financial advisor to O2COOL.

    Read More
  • Silicon Laboratories Inc. (NasdaqGS: SLAB)

    BB&T Capital Markets’ Diversified Industries Group completed a transaction for Silicon Laboratories Inc. in the first quarter of 2017, helping to raise $400,000,000 in gross proceeds for our client.

    Silicon Laboratories Inc., intends to use the proceeds from the offering to repay in full all amounts outstanding under its existing credit facility, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriter’s over-allotment option, through which they purchased an additional $50mm in principal notes.

    Read More
  • Microchip Technology Inc. (NasdaqGS: MCHP)

    BB&T Capital Markets’ Diversified Industries Group completed a transaction for Microchip Technology Inc. in the first quarter of 2017, helping to raise $2,300,000,000 in gross proceeds for our client.

    The offering consists of $1.8 billion of convertible senior subordinated notes due 2027, and $500mm convertible junior subordinated notes due 2037. Microchip Technology Inc. intends to use the net proceeds of this offering to repay indebtedness and for general corporate purposes. Microchip also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $270 million aggregate principal amount of the 2027 notes and an additional $75 million aggregate principal amount of the 2037 notes to cover over-allotments.

    Read More
  • Southern Audio Visual, Inc.

    On December 1, 2016, Southern Audio Visual, Inc. (“SAV” or the “Company”), a portfolio company of Prudential Capital Partners (“Prudential”), was acquired by Audio Visual Services Group Inc. (d/b/a PSAV) (“PSAV”), a portfolio company of Olympus Partners and the Merchant Banking Division of Goldman Sachs. BB&T Capital Markets served as the exclusive financial advisor to SAV.

    Read More
  • Stanton Carpet Corporation

    On November 21, 2016, Stanton Carpet Corporation ("Stanton" or the "Company"), a portfolio company of Norwest Equity Partners ("NEP"), was acquired by Quad-C Management, Inc. ("Quad-C"). BB&T Capital Markets served as the exclusive financial advisor to Stanton.

    Read More
  • Trademark Games Holdings, LLC

    On October 31, 2016, Trademark Games Holdings, LLC (“Trademark” or the “Company”), a portfolio company of Blue Point Capital Partners (“Blue Point”), was acquired by Bertram Capital. BB&T Capital Markets served as the exclusive financial advisor to Trademark.

    Read More
  • Fortiline Waterworks

    On October 31, 2016, Fortiline Waterworks (“Fortiline” or the “Company”), a portfolio company of CHS Capital, was acquired by MORSCO, a portfolio company of Advent International. BB&T Capital Markets served as financial advisor to Fortiline.

    Read More
  • Lennox International, Inc. (NYSE: LII)

    On October 25, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 3.00% senior notes due 2023 by Lennox International, Inc.

    Proceeds from the offering are being used for general corporate purposes.

    Read More
  • Owens Corning (NYSE: OC)

    On August 3, 2016, BB&T Capital Markets served as a co-manager for a $400 million offering of 3.40% senior notes by Owens Corning.

    Proceeds from the offering are being used for general corporate purposes, including to exercise the make-whole call to redeem all of the company’s outstanding 2016 notes and to repay outstanding debt.

    Read More
  • Eagle Materials Inc. (NYSE: EXP)

    On July 28, 2016, BB&T Capital Markets served as a book-running lead manager for a $350,000,000 offering of senior notes by Eagle Materials Inc. Proceeds from the offering were used to repay a portion of the amounts outstanding under Eagle’s credit facility.

    Read More
  • PulteGroup, Inc. (NYSE: PHM)

    On July 26, 2016, BB&T Capital Markets served as a book-running lead manager for a $1 billion two-tranche offering of senior notes by PulteGroup, Inc.
    The offering consisted of a $400 million tranche of 4.25% senior notes due 2021 and a $600 million tranche of 5.00% senior notes due 2027.

    Proceeds from the offering were used to repay a portion of the amounts outstanding under PulteGroup’s term loan facility, to repay any borrowings outstanding under its revolving credit facility and for general corporate purposes.

    Read More
  • NCI Building Systems Inc. (NYSE: NCS)

    BB&T Capital Markets’ Commercial and Industrial Group completed a transaction for a metal building systems manufacturer in the third quarter of 2016, helping to raise $167,152,500 for the selling shareholder, Clayton, Dubilier & Rice.

    The Company will not receive any of the gross proceeds from the offering of these shares. Clayton, Dubilier & Rice retains 42% ownership of the Company, down from 58% before this transaction. The 10.35 million share equity offering was completed with a concurrent repurchase of 2.91 million shares by the company. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased 1.35 million additional shares.

    Read More
  • Cape Electrical Supply LLC

    On July 1, 2016, Cape Electrical Supply LLC (“Cape Electric”), a portfolio company of Svoboda Capital Partners LLC, was acquired by Graybar Electric Company, Inc. (“Graybar”). BB&T Capital Markets served as the exclusive financial advisor to Cape Electric.

    Read More
  • Safety Products Group

    On June 17, 2016, Safety Products Group LLC (“SPG” or the “Company”), a portfolio company of Gemini Investors, TMW Enterprises, and Akoya Capital, was acquired by Tractel S.A.S. (“Tractel”), a portfolio company of Cinven. BB&T Capital Markets served as the exclusive financial advisor to SPG.

    Read More
  • WESCO International, Inc. (NYSE: WCC)

    On June 2, 2016, BB&T Capital Markets served as a  co-manager for a $350 million offering of senior notes by WESCO International, Inc. Proceeds from this offering are being used to repay the company’s 6.0% Convertible Senior Debentures due 2029, which are redeemable on or after September 15, 2016.

    Read More
  • Waste Connections, Inc. (NYSE: WCN)

    On June 1, 2016, BB&T Capital Markets served as a placement agent for a $750 million private placement of senior unsecured notes by Waste Connections, Inc. The issue consists of three tranches: $150 million of 2.39% senior notes due 2021; $200 million of 2.75% senior notes due 2023; and $400 million of senior notes due 2026.  Proceeds from the transaction are being used in conjunction with a merger transaction involving Waste Connections (formerly Progressive Waste Solutions Ltd. ("Progressive Waste")) and Waste Connections US, Inc. (formerly Waste Connections, Inc. ("Old Waste Connections")).

    Read More
  • Southern Company (NYSE: SO)

    On May 19, 2016, BB&T Capital Markets served as a  co-manager for an $8.5 billion offering of senior notes in seven tranches by The Southern Company. The offerings consisted of $500 million 1.55% senior notes due 2018; $1 billion 1.85% senior notes due 2019; $1.5 billion 2.35% senior notes due 2021; $1.25 billion 2.95% senior notes due 2023; $1.75 billion 3.25% senior notes due 2026; $500 million 4.25% senior notes due 2036; and $2 billion 4.40% senior notes due 2046. The net proceeds from the sale of the notes will be used to pay merger consideration for The Southern Company’s acquisition of AGL Resources Inc. Any remaining amounts will be used for general corporate purposes.

    Read More
  • NSi Industries, Inc.

    On May 17, 2016, NSi Industries, Inc. (“NSi” or the “Company”), a portfolio company of Summit Park, was acquired by Blue Sea Capital (“Blue Sea”). BB&T Capital Markets served as the exclusive financial advisor to NSi.

    Read More
  • Oglethorpe Power Corporation

    On April 15, 2016, BB&T Capital Markets served as a co-manager for a $250 million offering of 4.25% first mortgage bonds due 2046 by Oglethorpe Power Corporation. Proceeds from the offering are being used to fund construction costs and interest rate options used to mitigate exposure to other borrowings.

    Read More
  • Lowe’s Companies, Inc.(NYSE: LOW)

    On April 11, 2016, BB&T Capital Markets served as a co-manager for a $3.3 billion offering of senior notes by Lowe’s Companies, Inc. The offering consisted of $250 million of floating rate notes due 2019; $350 million of 1.15% notes due 2019; $1.35 billion of 2.50% notes due 2026 and $1.35 billion of 3.70% notes due 2046. Proceeds from the offering are being used to fund Lowe’s RONA acquisition, to repay $475MM of its 2.125% notes due 2016 and $550MM of its 5.4% notes due 2016, and for general corporate purposes.

    Read More
  • HD Supply, Inc. (Nasdaq: HDS)

    On March 28, 2016, BB&T Capital Markets served as a co-manager for a $1 billion offering of 5.75% senior notes due 2024 by HD Supply, Inc. Proceeds from the offering were to redeem in full $1 billion of the company’s outstanding October 2012 Senior Unsecured Notes.

    Read More
  • Cisco Systems, Inc. (Nasdaq: CSCO)

    On February 22, 2016, BB&T Capital Markets served as a  co-manager for a $7 billion offering of floating and fixed-rate senior notes by Cisco Systems, Inc. The offering consisted of six tranches, with maturities varying from 2018 to 2026. Proceeds from the offering were used for general corporate purposes, including share repurchases, repayment of debt, acquisitions, investments, additions to working capital, cash dividends and advances to subsidiaries.

    This offering represents the third bond transaction by Cisco Systems to which BB&T Capital Markets has been invited.

    Read More
  • Hooker Furniture Corporation (NASDAQ:HOFT)

    On February 1, 2016, major casegoods and upholstery importer and manufacturer Hooker Furniture Corporation (NASDAQ:HOFT) (“Hooker” or the “Company") completed its acquisition of substantially all of the assets and certain liabilities of Home Meridian International, Inc. (“HMI”). The acquisition more than doubled Hooker’s size and the combined entity will become one of the top five sources for the U.S. furniture market. BB&T Capital Markets served as the exclusive financial advisor to Hooker.

    

    Read More
  • Niagara Thermal Products, LLC

    On January 5, 2016, Niagara Thermal Products, LLC (“Niagara” or the “Company”), a portfolio company of ShoreView Industries (“Shoreview”), was acquired by Aavid Thermalloy, LLC (“Aavid”), a portfolio company of Audax Private Equity (“Audax”). BB&T Capital Markets served as the exclusive financial advisor to Niagara.

    

    Read More
  • Qorvo Inc. (Nasdaq: QRVO)

    On November 13, 2015, BB&T Capital Markets served as a co-manager for a two-tranche offering of senior notes by Qorvo Inc. The offering consisted of $450 million of 6.75% senior notes due 2023 and $550 million of 7.00% senior notes due 2025. Proceeds from the offering are being used for share repurchases and repayment of amounts outstanding under the company’s revolving credit facility.

    

    Read More
  • Colony Hardware Corporation

    On October 23, 2015, Colony Hardware Corporation (“Colony” or the “Company”), a portfolio company of AEA Investors (“AEA”), was acquired by Tailwind Capital (“Tailwind”). BB&T Capital Markets served as the exclusive financial advisor to Colony.

    

    Read More