We represented the initial purchasers on the notes offering

Davis Polk advised the representative of the several initial purchasers in connection with a Rule 144A offering by Granite Construction Incorporated of $600 million aggregate principal amount of its 6.375% senior notes due 2034. The proceeds from the transaction will be used to redeem all of Granite’s outstanding 3.75% convertible notes due 2028 and settle any conversions therewith following this transaction, as well as to repay borrowings under Granite’s revolving credit facility and for general corporate purposes.

Incorporated since 1922, Granite is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider.

The Davis Polk corporate team included partner Shane Tintle, counsel Jakub P. Jozwiak and associate Jonathon Gex Artigues. Counsel David A. Zilberberg and associate Timothy J. Sullivan provided environmental advice. The tax team included counsel Dustin Plotnick and associates Zoey Chau and Danielle D. Grazette. All members of the Davis Polk team are based in the New York office.

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