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Russel Metals Announces $150 Million Offering of Senior Unsecured Notes
Russel Metals Announces $150 Million Offering of Senior Unsecured Notes Canada New...
About this update from Russel Metals Inc.
[{"type":"text","content":"\n\n\n\nRussel Metals Announces $150 Million Offering of Senior Unsecured Notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 9, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, March 9, 2018 /CNW/ - Russel Metals Inc. (RUS – TSX) announced today that it has entered into an underwriting agreement to sell, on a private placement basis, $150 million aggregate principal amount of 6% Senior Unsecured Notes due 2026 (the \"Notes\").  The Notes will be direct senior unsecured obligations of Russel Metals ranking equally with all of its other present and future senior unsecured indebtedness.\n\nRussel Metals intends to use the net proceeds of the offering for the repayment of bank indebtedness and for general corporate purposes. The offering is expected to close on or about March 16, 2018, subject to customary closing conditions.\n\nRBC Capital Markets and GMP Securities are acting as joint book runners and co-lead managers for the offering, with an underwriting syndicate that includes Scotia Capital Inc., Laurentian Bank Securities Inc., Raymond James Ltd. and Wells Fargo Securities Canada, Ltd.\n\nSecurities Law Matters\n\nThe Notes were offered on a private placement basis in each of the provinces of Canada and in the United States without the filing of a prospectus or registration statement.  This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.\n\nThis announcement does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not con...