Concrete Pumping Holdings Announces Closing of Senior Secured Second Lien Notes Offering

DENVER, CO – February 3, 2025 - Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) has successfully closed a private offering of $425.0 million in aggregate principal amount of senior secured second lien notes due 2032. The notes were issued by Brundage-Bone Concrete Pumping Holdings, a wholly-owned subsidiary of the company.

Key Highlights:

• Notes Issuance: The $425 million senior secured second lien notes were issued at par and bear a fixed interest rate of 7.500% per annum.
• Guarantor Obligations: The obligations under the notes are guaranteed by Concrete Pumping Holdings, Concrete Pumping Intermediate Acquisition Corp., and each of Brundage-Bone Concrete Pumping Holdings' domestic, wholly-owned subsidiaries that are borrowers under or guarantors of the company's existing senior secured asset-based revolving credit facility.
• Proceeds Allocation: The proceeds from the notes were used to pay the redemption price for all of Concrete Pumping Holdings' outstanding $6.000% senior secured second lien notes due 2026, as well as related fees and expenses. Additionally, the remainder of the net proceeds, along with cash on hand, will be utilized to pay a special one-time dividend of $1.00 per share of the company's common stock, effective February 3, 2025[5].

Strategic Growth: This financing move is part of the company's strategic growth plan, enabling it to retire existing debt and allocate funds for future corporate purposes. The issuance of these senior secured second lien notes demonstrates Concrete Pumping Holdings' commitment to financial stability and strategic expansion.

For more information on Concrete Pumping Holdings and its recent developments, visit their official press release page.

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