Exhibit 99.2
TXI Announces $250 Million Offering of Senior Notes Due 2013
Dallas, Texas – June 17, 2005 - Texas Industries, Inc. (NYSE - TXI) announced today that it has launched an offering for $250 million of senior notes due 2013 (“Senior Notes”). The offering of the Senior Notes, which is subject to market availability as well as other conditions, will be made only to qualified institutional buyers and outside the United States in compliance with Regulation S.
TXI intends to use the net proceeds from the Senior Notes offering, together with a cash dividend from wholly-owned steel operations and existing cash to repurchase $600 million in existing senior notes due 2011.
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 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, changes in costs of raw materials, fuel and energy, the impact of environmental laws and other regulations which are more fully described in the Company’s Annual Report on SEC Form 10-K.
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